Central Bank of India to fund vocational students
The Central Bank of India has announced plans to finance students who are pursuing courses from vocational training institutes approved by National Skill Development Corporation (NSDC), in order to harness business in the education loan segment.
Speaking to Indian newspaper the Business Standard, Central Bank of India CMD S Sridhar said: “There is huge shortage of skilled manpower in the country. Taking a step in this direction and in order to bridge the gap, we have planned to finance students who are seeking courses in vocational training institutes supported by NSDC.”
NSDC is a not-for-profit company set up by the Ministry of Finance, under Section 25 of the Companies Act. A large part of the organisation’s efforts are directed towards developing skills in the unorganised sector in India, and it provides services for sectors including leathergoods, textiles and garments and home furnishings.
