[Resolved] Reserve Bank Of India (RBI) — Regarding education loan

vinaybnadavaram

from Pune, Maharashtra

Address:

Hyderabad, Andhra Pradesh

Hi sir, Myself vinay bandavaram.I got admit for my masters in kent state university, USA.From the last one month i was wanderring for loan.my present address is at Hyderabad and i had approached to OBC at Dilsukhnagar branch, Hyderabad.i do have owned a property at karimanagr.I had visisted them many times regarding loan, the people of OBC were saying to karimanagar OBC branch for loan.when i visted karimanager they people try for loan at your native place..I do owned all details of my adress of hyderabad...but i am unable to move here and there...they people are simply making to move here and there...even i owned a property am unable to get the loan

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Feb 12, 2017

Complaint marked as Resolved

Reserve Bank of India [RBI] customer support has been notified about the posted complaint.

Jul 23, 2015

Updated by vinaybnadavaram please take back my previous complaint regarding with OBC at Dilsukhnagar branch, hyderabad.Andhra pradesh...i had adjusted amount from other sources...I dont want to make issue with bank...since i had a good relation with them...thanks for support and coordination...

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Comments

Vallarasan

from Ferokh, Kerala

Sir,

I have got education loan at SBI, (924) Thanjavur main branch, Tamil nadu, loan ac number [protected]. Rs.1, 30, 000/- and I have made some payment of arround Rs.8000/- which was just adjusted against interest only.

Our family do not have any monthly income to repay the loan and I am also not yet employed for the repayment of the loan. At the time of receiving loan the repayment duration mentioned in agreement was 7 years after completion of the course.

But the bank have sold our loan to Reliance ARC recovery agent, before the repayment period allowe in the agreement and in the SBI education loan rules and regulations, and they (Reliance) ask us to make payment immediately otherwise my name will be put in CIBIL and in future it will affect my banking operations. They ask us to repay the unpaid loan amount Rs.122083/- only.

If the bankers ready sell our loan to the third party by half of the amount, it could have done to us and if they done this in the begining itself with out adjusting our repayment amount in the interest and simply reduce the loan amount we would have slowly paid atleast 3/4 th of the loan which would be more than what they have to the Reliance and now we would not have to face problem with unknown person.

One side the earlier Government said the education loan should be given to all students and the bankers should not harras the students when they are not able to repay the loan in time. But now nobody care about student life and their future and their economic condition and interest rate also being raised.

We do not know the Reliance, and they approach us through phone and mail and how can we rely upon them and even if we pay the loan it should be through the SBI and the bank should give protection to us.

We don't know what to do?

Please rescue us from this situation and advise us immediately as Reliance given time by this month end we have to make payment atleast a part.

Thanking you.

Yours faithfully,

ARUNVIKAS V

[protected]

[protected]@yahoo.co.in