Bangalore: India’s main software industry lobby, the National Association of Software and Service Companies (Nasscom), has urged the government to direct banks to restructure education loans taken by engineering students.
According to Nasscom, around 451,700 engineering students are expected to graduate in about a month and with the job market witnessing a slump, it would be difficult for them to clear pending loans.
“(The) government should instruct the banks to be more lenient and restructure loans,” Nasscom president Som Mittal said.
The software industry lobby is also campaigning for a partnership between the government and academic institutions so students can be offered training opportunities in government projects. This would increase productivity of the students, Nasscom said.