Education Loan — non-sanctioning of education loan from punjab national bank

Address:

Kozhikode, Kerala

I am a retired employee of Central Public Sector Undertaking and have two daughters.

I had applied for education loan of Rs. 2.60 lakhs from Punjab national Bank, Vatakara Branch, Kozhikode Distt, Kerala, to my younger daughter,
who is pursuing MBA in Coimbatore. When I contacted the Sr. Manager of the bank for he first time asking for an application form, she (the Sr. Manager) has flatly told me that the same is not going to be sanctioned. On my insistence she provided me an application form which I submitted back duly filled in along with all necessary documents. That was in the third week of September 2017.

However, after about two months the bank has started demanding several documents through e-mail messages with an intention to stop the sanction. I had provided them all the required and demanded documents and information. Despite of all these in the last week of December I have been informed that the higher authorities of the Bank has rejected my application stating that (i) my daughter has not obtained 60% marks (she has got 58.6%); (ii) Her marks MAT (entrance test for MBA) is also not sufficient. She has cleared the MAT and only on entrance test result the college authorities at Coimbatore has admitted her, and (iii) that there is no enough chance for MBA students to get a job after passing it.

I know that the PNB has already made up their mind to avoid education loan to the needy.

Of late I understood that the PNB has required amaze wealth to provide loan to people like NIRAV MODI to the tune of tens of thousands of crores by not sanctioning education loan to needy students, that too girls, so that the authorities get huge money as a token of gratitude from the Corporates only.

I would like to reach my Grievances to the Government machinery concerned so that the matter is solved and my daughter's study may not be disturbed due to shortage of funds.