student loan repayment

Querist : Anonymous (Querist) 04 January 2016 This query is : Resolved
I have a student loan amounting to 3 lacs with interest subsidy from government without any security and no guarantor from sbi. I graduated in July 2014. So I had to start repaying from July 2015. But I did not start paying it till now as could not get a job. What action bank can take against me if I could not pay back my loan at all as there is no security.

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Sudhir Kumar, Advocate (Expert) 05 January 2016
bank can sue you.

please check the facts.

Being govt bank they cannot give unsecured loan. in case bank has given loan without any guarantor then the bank officials are liable for disciplinary action.

in case they were running such a racket of large scale unsecured loans then CBI case can be registered and even the beneficiaries (including you) can be liable for criminal action.

in either way you have to refund.

malipeddi jaggarao (Expert) 05 January 2016
Hypothetical query by anonymous. Does not deserve any answer.

Rajendra K Goyal (Expert) 05 January 2016
No reply to query from anonymous.

Adv. Yogen Kakade (Expert) 05 January 2016
What are the terms agreed in the loan agreement?

K.S.Srinivas (Expert) 05 January 2016
No reply to the anonymous queries.

T. Kalaiselvan, Advocate (Expert) 12 January 2016
I stand by the experts views on the anonymous questions.

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