GIM, BOI join forces to help students

PANAJI: Goa’s top B-School, in partnership with a leading nationalized bank, has come up with a novel initiative where aspiring students will be able to avail of a loan up to 10 lakh without collateral. The move is aimed at ensuring that lack of funding is not a deterrent for keen and bright students, who wish to get enrolled at the Goa Institute of Management to pursue higher education.
GIM has entered into an agreement with Bank of India (BOI) where the nationalized bank can provide a loan to students seeking admissions at GIM. Presently, The State Bank of India provides a loan of up to 7 lakh for GIM students, which is also likely to be upgraded to 10 lakh from the beginning of the academic year 2015-17.
Banks have been given discretionary power to waive the requirement of collateral for a loan between rupees 4 lakh and rupees 7.50 lakh.
Talking about this Peter F X D’Lima, CEO and member on the board of directors of GIM, said, “We have taken steps to ensure that students who desire a B-school education can do so without loan-related hassles.”