Student loan---
Guest
(Querist) 09 June 2011
This query is : Resolved
Upto 4 lacs and in some other banks it even 7.5 lacs where banks are not to ask for collateral. On ground the things are different. The branch manager ask for the parents assets and liabilities and demand two bank gurranters , one of which has to be a serving govt servant.
Is it not heavily inclined for the already Haves and to deny the hapless Havenots who have produced children with merits and no moneybags.
Can somebody in this forum clarify whether this adhocism by the bank managers be legally challenged. And is there a NGO( Not funded by the govts of the day) which can fight this case for us?
Advocate. Arunagiri
(Expert) 09 June 2011
You send the case details:-
V.Arunagiri,
Advocate & Vice Chairman – TN,
International Human Rights Association, (Affiliated to United Nations)
4/344A Sea Shell Avenue,
Anna Salai, Palavakkam, Chennai - 600041.
Mobile: 9677033105.
Email: advocatearunagiri@yahoo.com, humanrights1963@yahoo.com
Raj Kumar Makkad
(Expert) 10 June 2011
It is the satisfaction of bank managers to advance loans and there is no legal compulsion for them to provide exemption to any one. It is true that banks are meant for earning income and only Haves can be helpful for them to achieve their goal. If any person is unable to re-pay any loan then managers are to be questioned by their higher managements so they are also duty bound to deeply assess the repayment capacity of loanee.
There is no scope for any NGO to work in this field.
Guest
(Querist) 10 June 2011
Dear Sri Raj
Have you ever heard of a bank manager being hanged till death for topping NPA( NON-PERFORMING ASSETS) in his bank? One nay be surprised but it is fact that most of today's most respected Industrialists are the ones who are the biggest defaulters for big big loans.The bank managers and their seniors who wrote their ACRs( Annual Confidential Reports ) are either owning an industry house of their own or a respected paid employes of those defaulting industrialists.
Yesterday i submitted the photocopy of the documents of my flat(original seen and verified by the br manager).It was sent to an empanelled Advocate. I gor a call from that empanelled Advocate that I need to submit link documents as bank wants link for past 30 years. I had purchased the flat from the builder who arranged loan from HDFC Ltd.In fact I made pre-payment and got my original document collected yesterday only. Now HDFC did not ask for such link documents and I do not have the link document.Going through net for some tips I found that prep of link documents is the specialised task of an advocate. I think it should be onerous duty of the empanelled Advocate to prepare the link documents for the bank for which bank is paying a fee.
Pl advice me on this aspect as it will help many more parents who are running pillar to posts to avail student loan reserved for the big big sharks .
a.manoharan
(Expert) 11 June 2011
I do agree with mr.Raj
Guest
(Querist) 12 June 2011
Yeah I agree with you too. Statusquo is beneficial to the 'Advocate Community'which are em-paneled by the respective abnks most arbitrarily( so called discretionery powers of the officials come handy).
I purchased the flat from the promoter/builder ( a total of 15 flats in that apts building). The builder arranged my loan from HDFC with original documents mortgaged with HDFC. A few days back I pre-paid, close the acct and got my original documents released to me. Same documents were handed over to Central Bank for student loan for my daughter which referred those documents to one of their empaneled Advocates. That Advocate called me and asked me to submit link documents for the property for the past 30 years. Look at the scenario how HDFC grants loan against the same property and how Advocates community are in hands and globes with the public as well as private banks.
I do not really know whether the bank is following cent percent referring each case to one of the advocates for his/her legal opinion. Or Bank managers or the management retains the rights to either refer or use their so called discretionery powers not to refer to the advocate or the valuer to approve student loan beyond 7.5 lacs against a non-movable property.
I am only referring to the adhocism in the business of banking and the role of advocates in such adhocism.
Your comments please.
RAJU O.F.,
(Expert) 17 June 2011
We know the number of NPAs under the educational loans are the highest. When a loan is catagorised as an NPA, whether it is loan of Rs.1 lakh or 100 crore, the first person who gets the blame is the Manager or officer who had sanctioned that loan. Hence, it is common that bank officials try to get some security to ensure repayment. We also know that many courses with high cost for studies, are not generating income immediately. Hence the beneficiaries of the loans are not in a position to repay in time. The issue is to be addressed at larger level; there is no use of blaming the bankers and the advocates, on legal scrutiny of property securities.
Guest
(Querist) 18 June 2011
BA BA RAM Dev and his armed soldiers want black black money stashed in Swiss Banks to be brought back and utilised for social work. BA BA Anna and his foot soldiers wants strong LOKPAL bill to punish the people who are corrupt.
Ans wer my simple question- was Sai BA BA corrupt? Otherwise how those crores in cash , in gold and silvers kept in his room unaccounted for?
Similar argument can be put forward for BA BA Ram Dev who is crore crore pati defrauding the people of this country in the name of Yoga and so called miracle medicines.
Let us expose all BA BAs and Sri sri sri 420s first. 90 % of the black black money is kept with those so called BA BA, in the forms of gold and jewelries with the presiding deities. Some of the gold just vanishes in thin air by some of the direct descendent of Gods in the forms of DOOLAR Shesadries.
Similarly NPA s of the NATIONALISED BANKS are the Assets of the big big home grown multinationals. They just defrauded the banks and the nation by not paying the loans granted to their firms.
