Education Loan Repayment - I have borrowed education loan
1 year ago
I have borrowed education loan of amount 4 lakhs and I was unable to pay after my degree completion due to unemployment. Now I have requested bank for OTS. since the account became NPA. I have deposited amount of 4 lakh and t10 thousand after discussion with branch manager. But now he is not processing anything even after one month. He is not even responding properly after the deposit. How can i proceed further legally. Please advice me here
Thanks.
A.It is not clear what was the mode of discussion, if its orally, you look for a written order. If its in writing like OTS letter, you may issue a legal notice to clear the loan and issue NOC/NDC
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A.Dear Sir,
You may either go to banking ombudsman or High Court to get a direction to the bank to close your educational loan account.
You may either go to banking ombudsman or High Court to get a direction to the bank to close your educational loan account.
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Subhashis Paul
Responded 1 year ago
A.Kindly send a legal notice to the branch manager intimating him about all the incident and ask for the progress report... If the bank fails to comply to your legal notice then you can sue the bank for deficiency of service.
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