State Bank Of India [SBI] — decline of education loan by state bank of india

Address:

Thane, Maharashtra, 421202

Hon’ble sir,

Sub: decline of education loan application id 179671 dtd. 22/03/18 by state bank of india,
Dombivli west branch (Ifsc code sbin0005165).

Grievance (1) pmopg/e/2018/[protected] dsehe/e/2018/03883 (3) dept./h&te/2018/4814 and letter
Vide f. No.26/20/2018-cp-if-ii dtd. 06/08/18 by under secretary – govt. Of india, ministry of finance &
F. No.17-7/2018-u.5 dtd. 27/07/18 by under secretary – govt. Of india, ministry of hrd.

I wish to bring to your notice that my grievance is not yet redressed and the grievance is once again reproduced.


I have approached state bank of india for the education loan in 2017 and they have declined the application for want of pan card for the student. The bank has informed that as per revised rules of the govt., education loan can not be granted to a student who do not have pan card. Email received from state bank of india in this connection is attached as annexure i.

Sbi advised to apply for the pan card and arrange 1st year fee by the parents, which will be refunded to the student directly when the pan card is received.

Accordingly, i have arranged first year fee of rs.78, 000/- along with lodging & boarding charges of approx. Rs.25, 000/- from outside sources and consequently i have defaulted 2 emis of hdfc personal loan and icici credit card payments.

The student applied for pan card and could receive the pan card in february, 2018.

Immediately in february, 2018, we have approached sbi, dombvili west branch, with the application in paper mode, and sbi advised us in march, 2018 to apply it in the portal of vidyalakshmi (Application id 179671) on 22/03/2018.

State bank of india, dombivli west branch, advised that the loan will be directly disbursed to the college as and when the fee details are published by the college.

The 2nd year college was to start on 16/07/2018 and on 12/07/18 i have received a phone call from sbi, dombvili west branch, that their racpc div.in thane, who is processing the application found my cibil score as 569 with various discrepancies in cibil report and hence they can not process the loan application. Email received from the bank in this connection is attached as annexure ii.

I have submitted the proof of clearance/settlement of two old discrepancies and informed that that the other two defaults were occurred during 2017-18 as i had to arrange approx.. Rs.1.00 lacs in 2017-18 from outside and accordingly i could not pay few emis of hdfc personal loan and icici credit card.

I have registered my grievance with various forums (1) pmopg/e/2018/[protected] dsehe/e/2018/03883 (3) dept./h&te/2018/4814.

Subsequently in reply to my email dtd. 25/07/18, state bank of india informed vide their email dtd. 25/07/18 that their racpc division are ready to sanction education loan with mother as co-borrower, but her signature required on education loan form as co-borrower. Email received from the bank in this connection is attached as annexure iii.

Accordingly, we have filled up and handed over the forms to sbi dombivli west branch on friday, 27/07/2018. I have checked up the status with the processing branch in thane on 31/07/18 and 04/08/18 and it was informed that they have not received the documents.

On 06/08/18, when i contacted their racpc division and the dombivli west branch, it was informed that their processing officer, in thane, is on leave and when she resume office, they will look into the matter.

On 14/08/18 through email the bank asked me to re-log vidyalakshmi portal and change the co-borrower’s name to the mother of the student so that their racpc division can process the loan application. Email received from the bank is attached as annexure iv.

However, by that time the admission process of the college has completed and the name of the college was not available in vidyalakshmi portal and could not add the name of the other co-borrower.


Regards,

Kaladharan r. Pillai