[Resolved] State Bank Of Travancore — Educational Loan | |
From 03.03.2010 Madasamy, (F/o. Satheesh Kumar M – 1st B.Sc. Nursing), East Division, Chokanad Estate, Munnar – 685 612, Kerala. To Indian Consumer Complaints Forum, Dear Sirs, EDUCATIONAL LOAN I would like to bring your kind notice that the branch Manager of Devikulam State Bank of Travancore, Munnar, Kerala promised me to provide loan for my son and advised me to get all the relevant papers such as school certificates, fee structure certificate from the college etc. As such, he joined in the Capitol college of Nursing at Bangalore for B.Sc. Nursing during the year 2008 – 09. As advised, we submitted all the papers to the bank but it was told that my son been sanctioned only Rs.1,39,000/- instead of the amount of Rs.3,50,000/- mentioned in the fee structure. Out of these, he has received payment of Rs.31,090/- only. He has the prescribed marks required for admission and he has secured admission based on the eligible marks prescribed by the Government. Now he has not remitted the different fees so far to the college and we are under tremendous pressure. I have taken loan from outside sources for huge interest rates and paid certain fees and expenses for the education. As you know, all the students who joined in various colleges last year were given loan as per fee structure and I too thought that we would be sanctioned loan as promised by the Government and bank. On that hope only, he was allowed to join in the college and we have been put to humiliation and shame because of the non sanctioning of the full amount of loan requested. This has put us in tremendous mental agony and stress. Under the circumstances, I request you to intervene on the matter and arrange to sanction the balance amount as promised urgently. Thanking you, Yours faithfully, Was this information helpful? | |
Aug 14, 2020 Complaint marked as Resolved | |
 7 Comments | |
Comments
Hi, I taken Education loan for studying MCA in the year 2002 for the amount 97, 000(total sanction amount for 3 years) with 13% interest per annum. I am frankly saying that i don't have much idea about the bank interest rates, even my parents doesn't have any idea about the interest rates. For security the bank people collecting our uncle's House registration documents. still i have to pay another 30, 000.
i am paying the interest for the sactioned amount(not for the total amount) from that starting date iteself.
i thought that 13% is a huge interest rate in 2002 on education loan, that too they are collecting the Registration ducuments of my uncle's house. could u please advice me, can we take any legal action for that.
i am paying the interest for the sactioned amount(not for the total amount) from that starting date iteself.
i thought that 13% is a huge interest rate in 2002 on education loan, that too they are collecting the Registration ducuments of my uncle's house. could u please advice me, can we take any legal action for that.
STATE BANK OF TRAVANCORE, DEVIKULAM — EDUCATIONAL LOAN
03.03.2010From
Renuka,
D/o. Mr. Ponraj,
East Division,
Chokanad Estate, Munnar – 685 612, Kerala.
Dear Sirs,
EDUCATIONAL LOAN
I refer to my letter dated 31st July 2008 and 20.03.2009 sent to the Bank, the State Bank of Travancore, Devikulam, Munnar, Kerala with copy to the Union Government and state government.
As stated in the letters, they had promised me to provide loan and advised me to get all the relevant papers such as school certificates, fee structure certificate from the college etc. As such, I joined in the Capitol college of Nursing at Bangalore on 1st September 2007 for General Nursing & Midwifery diploma. As advised I submitted all the papers to the bank but till date the loan is not sanctioned to me. I have the prescribed marks required for admission and I have secured admission based on the eligible marks prescribed by the Government. Now I have not remitted the fee so far to the college and I am under tremendous pressure.
I have taken loan from outside sources for huge interest rates and paid certain fees and expenses for the education. As you know, all the students who joined in various colleges last year were given loan as per fee structure and my parents and I too thought that we would be sanctioned loan as promised by the Government and bank. On that hope only, I joined in the college and I have been put to humiliation and shame because of the non sanctioning of the loan. This has put us in tremendous mental agony and stress.
Under the circumstances, I request you to kindly intervene in the matter and get the loan of Rs.1,50,000/-sanctioned to me as promised by the bank urgently
Thanking you,
Yours faithfully,
The fact is that even the governments have no say in the functioning of banks in India eventhough there are any number of regulatory measures as envisaged in various statutes/laws and the Constitution.This is reflective of the dubious relations of the politicians with the banking sector in India.These banks have scant regard for the master circulars issued by the RBI or the IBA in respect of education loans to meritorious and deserving students! Anoble sceme basically meant for the development of a STRONG INDIA OF TOMORROW is unimaginatively treated by these barbarian-banks!
NO BANKS IN INDIAN UNION IS PERMITTED TO MAKE THEIR OWN RULES WHICH SUPERSEDS THE GUIDELINES OF THE RESERVE BANK OF INDIA, THE SUPREME BANK OF INDIA.THE CHAIRMAN AND THE MANAGING DIRECTOR OF THESE BANKS ARE ALSO APPOINTED BY THE R B I AND THEY EVEN DO NOT HAVE THE POWER TO ALTER THE R B I GUIDELINES. BUT EVERY BANK IN INDIA ARE TRYING TO MANIPULATE THING TO THEIR WAY AND MAKING THE PUBLIC FOOLS AND BLIND. SOME BOLD STEP SHOULD BE TAKEN AGAINST THE BANKS AS TAKEN BY THE MADRAS HIGH COURT, RECENTLY. YOU CAN VIEW THE JUDGMENT IN FULL IN THE WEB SITE OF EDUCATION LOAN TASK FORCE[www.eltf.org. THE SUPREME COURT OF INDIA ALSO MUST INTERVENE IN THIS MATTER AT THE EARLIEST
Banks can't deny loan due to low marks: Madras High Court
10:11 AM Judgement No comments
source: http://timesofindia.indiatimes.com/city/chennai/Banks-cant-deny-loan-due-to-low-marks-says-HC/articleshow/16896507...⇄
Banks can't deny loan due to low marks, says HC
[protected] या[protected]
20 October 2012
CHENNAI: A bank cannot deny educational loan to students on the ground that the student's academic record is poor, the Madras high court has said.
Justice D Hariparanthaman, passing orders on a writ petition of a scheduled caste girl, said: "The bank cannot deny educational loan on the ground that the academic record of the petitioner at the school level was very poor. There is no such provision in the circular of the bank that the loan can be sanctioned only if the academic performance of the student was very good at the school level."
Justice Hariparanthaman said: "In fact, I have noted in my earlier order dated September 15, 2010 that Dr B R Ambedkar obtained only 287 marks out of 750 in the matriculation examinations and his educational need was taken care of by King of Baroda on the ground that he belongs to scheduled caste, " the judge added.
Noting that the Central government had brought the educational loan scheme to help economically weaker sections and not even a third party guarantee was required for disbursement of loans up to 4 lakh, Justice Hariparanthaman asked the Ambur branch of the Punjab National Bank to sanction educational loan to the student within four weeks.
The matter relates to a writ petition of Anitha, a nursing student from Vellore district. Though she cleared her Class 12 in 2005, she was not able to continue higher education due to family problems and poor health condition of her mother. Later, she joined BSc (nursing) at Noorie College of Nursing in Kolar district in Karnataka. She applied for an education loan for 3.15 lakh. But, the Punjab National Bank rejected her application on the ground that her academic performance at the school was poor.
The bank, however, justified the denial of educational loan to Anitha, stating that it had been provided for in the bank's circular. Referring to earlier orders of the court, the judge said the circular could not go beyond such orders.
Source:
http://articles.timesofindia.indiatimes.com/[protected]/chennai/28252836_1_model-educational-loan-scheme-higher-education-w...⇄
Education loan can't be denied citing low marks, says HC
TNN Sep 17, 2010, 12.59am IST
CHENNAI: Coming to the rescue of a dalit boy who was denied educational loan because he had scored less than 45 per cent marks, the Madras high court has said it was unfortunate that banks were inventing reasons to deny loans to students.
Justice D Hariparanthaman, directing the State Bank of Travancore to extend educational loan to S Maran, who joined the SKR Engineering College at Poonamallee in 2008, said that had such an attitude been adopted earlier, even the architect of the Constitution, Dr B R Ambedkar, could not have pursued his higher education.
Maran, a first-generation engineering student, joined the college in 2008 and paid his first year tuition fee with great difficulty, as he was not aware of the educational loan scheme. However, in 2009-10, he applied for a loan but never got any response from the bank. He had to borrow loan from private people. He then approached the high court against the denial of loan.
The bank, in its counter-affidavit, said that the boy was not eligible for educational loan as he had scored less than 45 per cent marks, which was the cut off for availing the loan. It also quoted a circular, issued on June 1, 2008, on the basis of a Model Educational Loan Scheme of the Indian Banks' Association.
Justice Hariparanthaman, noting that the very purpose of the educational loan scheme would be defeated by such an approach, said: "If such an attitude was adopted, even Dr B R Ambedkar could not have gone for higher education. He had obtained only Rs 287 marks out of 750 in the matriculation examination. The king of Baroda was kind enough to extend financial assistance to him."
The intention behind the welfare scheme was to provide financial assistance to weaker sections of the society, he said, adding, "It is unfortunate that the bank is denying the facility (to students) citing one reaso or the other."
If such an argument of the bank is accepted, in Tamil Nadu, except the general category students, no other student would get educational loans, Justice Hariparanthaman said. The government has prescribed just 35 per cent as eligibility criterion for SC/ST students' admission in professional courses, he pointed out.
He then directed the bank to sanction the loan within four weeks, and asked the college to reimburse the fee paid by the boy for his second year.
SO READ THIS POST CAREFULLY, PRINT IT AND PROPAGATE IT AND FIGHT FOR IT. PR.SAM PAUL, CONTACT NO.[protected]
Banks can't deny loan due to low marks: Madras High Court
10:11 AM Judgement No comments
source: http://timesofindia.indiatimes.com/city/chennai/Banks-cant-deny-loan-due-to-low-marks-says-HC/articleshow/16896507...⇄
Banks can't deny loan due to low marks, says HC
[protected] या[protected]
20 October 2012
CHENNAI: A bank cannot deny educational loan to students on the ground that the student's academic record is poor, the Madras high court has said.
Justice D Hariparanthaman, passing orders on a writ petition of a scheduled caste girl, said: "The bank cannot deny educational loan on the ground that the academic record of the petitioner at the school level was very poor. There is no such provision in the circular of the bank that the loan can be sanctioned only if the academic performance of the student was very good at the school level."
Justice Hariparanthaman said: "In fact, I have noted in my earlier order dated September 15, 2010 that Dr B R Ambedkar obtained only 287 marks out of 750 in the matriculation examinations and his educational need was taken care of by King of Baroda on the ground that he belongs to scheduled caste, " the judge added.
Noting that the Central government had brought the educational loan scheme to help economically weaker sections and not even a third party guarantee was required for disbursement of loans up to 4 lakh, Justice Hariparanthaman asked the Ambur branch of the Punjab National Bank to sanction educational loan to the student within four weeks.
The matter relates to a writ petition of Anitha, a nursing student from Vellore district. Though she cleared her Class 12 in 2005, she was not able to continue higher education due to family problems and poor health condition of her mother. Later, she joined BSc (nursing) at Noorie College of Nursing in Kolar district in Karnataka. She applied for an education loan for 3.15 lakh. But, the Punjab National Bank rejected her application on the ground that her academic performance at the school was poor.
The bank, however, justified the denial of educational loan to Anitha, stating that it had been provided for in the bank's circular. Referring to earlier orders of the court, the judge said the circular could not go beyond such orders.
Source:
http://articles.timesofindia.indiatimes.com/[protected]/chennai/28252836_1_model-educational-loan-scheme-higher-education-w...⇄
Education loan can't be denied citing low marks, says HC
TNN Sep 17, 2010, 12.59am IST
CHENNAI: Coming to the rescue of a dalit boy who was denied educational loan because he had scored less than 45 per cent marks, the Madras high court has said it was unfortunate that banks were inventing reasons to deny loans to students.
Justice D Hariparanthaman, directing the State Bank of Travancore to extend educational loan to S Maran, who joined the SKR Engineering College at Poonamallee in 2008, said that had such an attitude been adopted earlier, even the architect of the Constitution, Dr B R Ambedkar, could not have pursued his higher education.
Maran, a first-generation engineering student, joined the college in 2008 and paid his first year tuition fee with great difficulty, as he was not aware of the educational loan scheme. However, in 2009-10, he applied for a loan but never got any response from the bank. He had to borrow loan from private people. He then approached the high court against the denial of loan.
The bank, in its counter-affidavit, said that the boy was not eligible for educational loan as he had scored less than 45 per cent marks, which was the cut off for availing the loan. It also quoted a circular, issued on June 1, 2008, on the basis of a Model Educational Loan Scheme of the Indian Banks' Association.
Justice Hariparanthaman, noting that the very purpose of the educational loan scheme would be defeated by such an approach, said: "If such an attitude was adopted, even Dr B R Ambedkar could not have gone for higher education. He had obtained only Rs 287 marks out of 750 in the matriculation examination. The king of Baroda was kind enough to extend financial assistance to him."
The intention behind the welfare scheme was to provide financial assistance to weaker sections of the society, he said, adding, "It is unfortunate that the bank is denying the facility (to students) citing one reaso or the other."
If such an argument of the bank is accepted, in Tamil Nadu, except the general category students, no other student would get educational loans, Justice Hariparanthaman said. The government has prescribed just 35 per cent as eligibility criterion for SC/ST students' admission in professional courses, he pointed out.
He then directed the bank to sanction the loan within four weeks, and asked the college to reimburse the fee paid by the boy for his second year.
SO READ THIS POST CAREFULLY, PRINT IT AND PROPAGATE IT AND FIGHT FOR IT. PR.SAM PAUL, CONTACT NO.[protected]
Hi sir,
Actually I had educational loan for SBT Marthanadam Branch. I taken Loan For 1.5 L[protected]. after I complete the course I couldn't get the job because of that I couldn't complete the loan on time but now I closed now. I had doubt now actually government give any subsidy for this loan how I can confirm that . why I have doubt actually study loan I had one account no but last 3 years they given separate account no and I settled also new account. how I can confirm that issue.
Regards
Ratheesh
Actually I had educational loan for SBT Marthanadam Branch. I taken Loan For 1.5 L[protected]. after I complete the course I couldn't get the job because of that I couldn't complete the loan on time but now I closed now. I had doubt now actually government give any subsidy for this loan how I can confirm that . why I have doubt actually study loan I had one account no but last 3 years they given separate account no and I settled also new account. how I can confirm that issue.
Regards
Ratheesh
Hello everyone, My name is Mrs Florence Hanger and i am talking as the happiest person in the whole wild world today and i told myself that any lender that rescue my family from our poor situation, i will tell the name to the whole wild world and i am so happy to say that my family is back for good because i was in need a business loan of $200, 000.00 USD to start my life all over as i am a mum with 2 kids and the whole world seemed like it was hanging on me until i met the GOD sent loan lender that changed my life and that of my family, a GOD fearing lender, Mr John, The C.E.O of John Morgan Loan Firm, he was the savior GOD sent to rescue my family and at first i thought it was not going to be possible until i received my loan of $200, 000.00 USD and i will advise anyone who is in need of a genuine loan to contact Mr.John, Morgan via email at. (john.[protected]@gmail.com )Because he is the most understanding and kind heated lender.
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educationloan — NOT SANCTIONING OF EDUCATION LOAN
RESPECTED SIR, I HAVE APPLIED FOR BANK LOAN FOR THE COMPLETION OF MARINE ENGINEERING ...I HAVE GIVEN ALL REQUIRED DOCUMENTS AS PER YOUR RULES AND REGULATIONS BUT I DON.T KNOW WHY YOUR STAFF ARE DELAYING MY LOAN . SIR PLEASE TRY TO ISSUE THE LOAN AS SOON AS POSSIBLE . FROM:ELECHETTY DEVENDRA, S/O ELECHETTY KUPPAIAH, A.P.S.R.T.C.DRIVER, PILER DEPOT, CHITTOOR DISTRICT, ANDHRA PRADESH .PIN CODE:517214