Why banks are suddenly lining up to finance your study abroad
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Introduction
This chapter discusses the increasing number of students from India who are studying abroad and the challenges they face in securing loans from public sector banks. It highlights the story of a friend who had to provide collateral and went through a tedious documentation process, affecting her visa application. The chapter also mentions the reluctance of public sector banks in India to fund study abroad loans due to the high risk involved. In contrast, non-banks like Cradilla and Avon's financial have been funding these loans with a collateral-free and quick sanctions approach.
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