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Kerala assembly censures banks for denying education loans
Friday June 22, 2012 06:15:48 PM,
IANS
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Thiruvananthapuram: In a rare show of political unity, the Kerala assembly Friday
censured erring banks that refuse to sanction educational loans.
Moving a motion, treasury bench legislator Thomas Unniyadan called
for the attention of the house that banks in the state, despite
Reserve Bank of India guidelines and three different rulings by
the Kerala high court, were saying no to students who approach
them for educational loans.
"This is the season when students approach banks for educational
loans. The banks are playing spoil sport in not sanctioning the
loans for the needy. The government should come up with measures
to rein these erring banks," said Unniyadan.
The state today has more than 40,000 engineering seats besides an
equal number in medical and paramedical courses. Out of these more
than 80 percent seats are in the professional self-financing
colleges.
Chief Minister Oommen Chandy has assured the house a special
meeting of all legislators to tackle the issue Monday.
"Already the state government has held two meetings with the State
Level Bankers Committee. We will meet Monday and see how we can
tackle this issue," said Chandy.
Numerous legislators pointed out that while the Indian Banks
Association have clear guideline of educational loans for students
seeking admission, colleges that are recognised should give loan
up to Rs.four lakhs without collateral security or sureties -- but
this does not happen.
"Education loan is a right of the students but these banks do not
do their duty despite clear cut guidelines. We will ask all the
legislators who are behind this issue to see that they take part
in the District Level Bankers Committee. We will also give
necessary directions to the district collectors to see that this
issue is raised and brought to the attention of the leading banks
in every district," said Minister for Rural Development K.C.
Joseph.
Joseph also added that the issue will be taken up to the highest
level with the chief minister's Delhi visit in first week of July.
In April, a nursing student Shruthi, from Kottayam, committed
suicide after failing to to get an education loan.
Following a huge public outrage, the police arrested the bank
manager, who recently got bail.
"If the state government does not act fast, there will be more
number of Shruthi's committing suicides," said Unniyadan.
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