SBI has decided to cut down the interest rates on education loan by 1 % and this would be quite a relief for most of the students in India who depend on education loan for their higher studies. SBI has further added that the interest rates can be further slashed if RBI lowers CRR ratio.
Great news for most of the students in India! Prioritizing education in every mode will really help improve the education status of Indians which i think is the need of the hour! But not just helping the backward economic class students to study further, i think government must also think of allocating funds to college, universities and research institutes to bring India on the track of innovation.
