Govt asks Indian Banks Association to assess impact of Ukraine conflict on outstanding education loans

The Union Government has asked the Indian Banks Association to assess the impact of the ongoing conflict in Ukraine on outstanding education loans of the students returned recently from the country. The government has also asked them to initiate stakeholder consultations in this regard.

In a written reply during question hour in Lok Sabha ,  Finance Minister Nirmala Sitharaman said that as per the information received from present public sector banks as on 31st of December 2021, a total of 1,319 students had availed education loan for study in Ukraine with outstanding balance of 121.61 crore rupees. She said that the current situation is fluid and the government is closely monitoring the developments.