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PNB eases loan formalities for Muslim students

By TwoCircles.net staff reporter

Chandigarh : The United Progressive Muslim Front (UPMF) has identified around 100 Muslim students, mostly of madrasa background, who want to take vocational training courses, including courses in carpentry, BPO (Business Process Outsourcing) professions and retail sector, etc. across the city and submitted a list of these to the director of Social Welfare Department (DSW) in order to get relaxation in terms of loans for the students.

The demand was, however, put down by DSW and the Muslim aspirants had to approach Panjab National Bank which is ready to provide loans for the students bypassing various formalities for the grant of loans.

The UPMF wanted the DSW to waive off collateral security for the loan amount of Rs 10,000 or more. The DSW, however, put down the proposal.

UPMF spokesperson Arshad Khan said, "For quite some time the proposal was pending before the DSW but no decision was taken by them. Then we approached the Panjab National Bank and they gave a very positive feedback to us."

Meanwhile, the officials of the bank have gone through the proposal and decided to make the terms and conditions of the loans easy for the students.

PNB general manager BP Chopra said, "We have gone through the proposal and are ready to by pass the rules as it is for a good cause."