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SBI to help 2,000 schools in computer education

State Bank of India has joined hands with Intel, MS and NIIT for the project and has decided to invest Rs 1,000 crore in next two years.

india Updated: Mar 06, 2006 16:54 IST

State Bank of India has joined hands with Intel, Microsoft and NIIT in a unique project to help 2,000 private schools adopt computer education, for which it will make available Rs 1,000 crore in next two years.

"We will give loans of Rs 30,000 to Rs 8 lakh per school depending on requirement and expect to disburse Rs 1,000 crore to these schools in two years," SBI chairman A K Purwar said at the launch of the project here.

The holistic education package will address the needs of various stakeholders like students, teachers, principals, school managements and parents to revolutionalise the education at school level.

The solution being rolled out by leading IT training institute NIIT will source technology from Intel, software from Microsoft and an easy financing package from SBI.

The project aims to implement IT and IT-assisted education in 2,000 schools in first phase, out of the target of 10,000 schools to be brought under the programme.

"There are two lakh private schools in India. We will strive to reach to as many as possible in the coming years," NIIT CEO Vijay Thadani said.

Intel is working on a computer which can be run on battery keeping in mind the power problem in rural India.

SBI will give loans to the schools maturing in 3-5 years at concessional interest rate of 8.5 per cent.

Purwar said the bank is focussing on increasing lending to education sector.

"We have provided finance to 1,000 educational institutions amounting Rs 500 crore which is likely to go up to Rs 2,000 crore in two years," Purwar said.

First Published: Mar 06, 2006 16:54 IST