Education loan
rajveer sahu
(Querist) 20 August 2016
This query is : Resolved
Dear sir,
I was took the education loan from pnb bank in 2008. Almost it has been paid and outstanding amount is 46000/- till date which is not paying in last 10 month. Reason behind of not paying the loan is the subsidy. I think you remember, that Mr. Chdimbaram was announced the subsidy on interest of education loan. Also I was filed the RTI in pnb branch then they replied that I am eligible for this and subsidy will be deliver till October 2015 but it was not done, again I talked with branch manager then he told me that it will deliver till December 2015 but it was not done. After this again I filed the RTI to pnb bank then he told me that it will be deliver till March 2016. But it is not done. After this I talked with a lawyer and send him a notice and asked him about the subsidy then he replied that we can not do the any agreement for this and you are not eligible for subsidy and you have to deposit the outstanding amount within 15 days, if you fail to deposit this amount then bank will issue the RC against me. So I request to you. Please suggest me that what should I do in this situation? Because they are not accepting the own written commitment and do the mentally harassment. Please help me what should I do?
Ms.Usha Kapoor
(Expert) 20 August 2016
ear Client,
You first issue a legal notice to them why they have gone back on their promise of considering subsidy on the balance installments of educational loan, Failing a satisfactory or no reply from them you launch legal proceedings against Punjab National Bank.. After that file a Writ of Mandamus against the bank to direct them to be bound by their promise of considering subsidy and treat the educational loan closed and release of security in ln full and final payment of educational loan violating your right to equal protection of laws under /article 14 and right to life and personal Liberty under article 21 of the constitution.Producing all the correspondence you have collected against the Bank all these years through RTI applications. They are bound to consider your case of subsidy as per their promise and close the educational loan and release your house or other security in their favour. They are guilty of breach of promissory Estoppel.
R.K Nanda
(Expert) 20 August 2016
Nothing to add.
R.K Nanda
(Expert) 20 August 2016
Nothing to add.
Rajendra K Goyal
(Expert) 20 August 2016
Borrower is responsible to return the loan taken by him. If applicable, Bank would apply for the subsidy and would pass the benefit to borrower when received. Government release the subsidy and not the Bank. Meanwhile if the account become NPA / loan become bad, the Bank can proceed to recover as per procedure.
If in position to return return major part of the loan / full loan, if subsidy received, it would be payable to you.
Use RTI to get the information when the subsidy for your account was claimed, whether any subsidy received from the total list of borrowers.
Raj Kumar Makkad
(Expert) 20 August 2016
It shall be better to go through the initial agreement carefully and decide next course of action accordingly. I am of the view that banks do not provide subsidy rather either of the departments of the govt. perform this action. Therefore, it is wise to knock the doors of that particular department so that the amount of subsidy may be got reimbursed to the banker and you may get clearance certificate. It that exercise takes some time then better to clear the loan with intimation to that particular department and then claim for direct reimbursement of subsidy. It shall save further amount of interest on outstanding loan amount.
adv.bharat @ PUNE
(Expert) 20 August 2016
Mr. Sahu u need to read the notification of the subsidy and then act.
