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HIGH COURT COMES HEAVILY ON BANKS REFUSING EDUCATIONAL LOANS.
Posted on: 03/Dec/2010 1:36:03 AM
Justice R Sudhakar, observed: while disposing of petitions from affected person that The Banks should not deny education loan on hyper-technicalities and that the Bank managers should not develop retrograde attitude and deny education loan arbitrarily but they have to promote the cause of education, which will empower youth of our nation. The girls affected had approached the high court after the Sengundram branch of the Canara Bank in Vellore district refused to sanction education loan for them to pursue an engineering degree course at Veltech Hi-tech Engineering College at Avadi here.
The applications were, however, rejected on the ground that the girls` father had due on a loan received for poultry form from a bank. Justice R Sudhakar said that the Chairman of all nationalised and commercial banks should suitably instruct bank managers, especially in rural areas, to ensure that as and when eligible and poor students seek application forms and apply for eductional loan, their case should be considered sympathetically and in a customer-friendly manner to promote the cause of education and nation-building as the scheme is intended to fill up the vacuum that the state is feeling difficult to fill.
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