Reserve Bank Of India (RBI) — Complaint against your Kollam Main

Address:

Kollam, Kerala

From Shanu Shabnam, Kaiyalackal house, Sneha Nagar-208, Ayathil P.O, Kollam. Ph; [protected], [protected] Dear Sir, SUB: - Complaint against your Kollam MainBranch Application for Education Loan to pursue MBAcourse rejected I have approached Kollam Main Branch of CanaraBank for sanctioning Education Loan for pursuing my MBA course in Bhavans RoyalInstitute of Management, Ernakulam. Butthe officials of the Branch have refused to accept my loan application. I have secured admission to MBA under merittier on the basis of satisfactory MAT score. My parents are working and settled in Middle East, and I was brought upand completed my studies there. I havecome back to Kerala 18 months back, and was continuing my studies, along withpart-time job. My parents are unwilling to execute theloan documents, due to certain family problems, related to my proposedmarriage. I am presently staying withmy grandmother, who is my legal guardian in the absence of my parents. She is willing to execute the loan documentsas my guardian. My uncle (father'sbrother) is willing to offer personal guarantee, even though the guarantee isnot applicable for loan upto Rs. 4.00 Lakhs in merit quota. I have informed all the above details tothe branch officials, but still they have not accepted my loan application, insisting that my parents should execute the documents, or they should give aPower of Attorney. But due to someserious family matters, my parents are refusing to sign the documents or toissue a POA. It isvery unfortunate that a great institution like Canara Bank, which is thepioneers in promoting educational loans in India, is taking such a standagainst a meritorios student, on the basis of such baseless reasons. Does this mean that any student who is nothaving any help from parents, or any orphan children are not eligible forEducation Loans? I request you to kindly accept my EducationLoan Proposal and sanction the same and please permit my Grand mother to becomethe co-borrower. I also request you tokindly accept my uncle's personal guarantee, instead of taking theco-obligation of my parents. Since I am having no other resource toapproach, I request you to please take a magnanimous view in this matter, andsanction the loan. Anticipatinga very favourable action from you, Kollam Yours faithfully 20.04.2015 Shanu Shabnam