Deny of education loan

Sanction of any loan to a person is the own discretion of the Bank,any complaint in this regard to the Consumer Forum does not lie and has no merti, as the borrower is not a consumer in terms of Consumer Protection Act.

Bank has to look into the repayment capacity of the borrower and security a borrower can offer, before bank can lend its good money.

You can try by downloading bank govt policy on education loan. Study it carefully and then press for your right to be qualified for loan. You may also download govt. policy guaranteeing education loan and quote from it to the bank.

please check if anyone is interested in bribe. the things can be easily solved by getting him arrested. If you feel you are unduy harassed by govt bank you can write to the chief vigilance officer. mere rented accommodation is no ground for denying edu-loan as even slum dwellers also take such loans and I believe that there is a govt policy for subsidy to BPL people and BPL people are not always having their houses.  You can even move RTI as to how many loans have been sanctioned by the said branch in rented accommodations. By the way what abot trying in bank where your father has salary account?

We didnt tried the loan in father bank where his salary account is there, as per the rule of canra bank, Prioprity sector loans rules as per RBI, we can approach any of the bank which is near to our place of residence. Fathers branch is more than 25km away from residence fro this reason we approached that Canara bank. If that is the case they might have told this when we are submitting the loan application.

They are t=harrasing us in this issue now, in this time we are unable to get another salary certificate and other certificates required by college and all, Moreover we cant apply education laon in multiple bank.

But the reason they are giving is like childish. You people are in Rented accomadation and you should provide the security of two of your neighbors..

The file uploaded by you could not be downloaded. You may look into the attachment downloaded from bank website. It may be the same as uploaded by you.

As per declaration by bank at its website:

-Loan is given jointly to the student and parent /guardian
Assignment of future income of the student
Upto Rs.4.00 lacs- No security

-Security or third party guarantee is warranted.

If you have submitted the loan application, bank is under obligation to supply you the certified copy (under original seal and signature of the competent official which is usually Officer/Manager of the branch)

and  the reason if any to decline the loan in writing.

and also the additional documents or information if any required by the bank in writing.

It is believed that you are yourself transacting with the bank verbally.

If you have understood your eligibility and bank rules correctly, It shall be appropriate to transact with bank in writing under acknowledgment only. You may obtain certified copy of your loan application and demand to know the status in writing from the bank by redg/speed post only or you may collect the letter from the bank in bank branch from manager.

The other alternative is you can submit a written representation to the nodal officer/chairman of the bank and you shall receive a reply in writing.

I have filed the RTi application with the bank for asking the reason for delay in sanctioning the loan of priority sector and authority responsible for it.

After this application bank became very polite and they snactioned my loan, which is kept pending by more than 1 and half month. 

RTI is a power full weapon against the public authority and to ensure Good Governance. 

Happy to note that you have got the resoloution.

It affirms that those who act get a response. It is always better to transact in writing under acknowledgment.

RTI is indeed a powerful tool. Citizens charter is another feature which is to be essentially displayed by the banks, which majority of the banks do not display and even grievance redressal mechanism is not properly displayed in  the branches. However a vigilant customer can take the bank/BM to task on these lapses.

Citizen's charter can be found in the web site of the bank.

Kindly create awareness amongst your peers, colleagues, social circle and help them to deal their issues effectively.

repeated query.

To continue your higher studies easily, you can go for student loans without cosigner which offers you loan amount even without cosigners.