I have taken education loan 1,90,000 in 2009 for B.tech. My course was completed in 2013, but after that, I have not paid any amount of money till August 2016.In August 2016 bank has filed a civil suit against me, my father and my mother for repaying the loan with interest . On my request, the court has arbitrated that I would have to pay the whole sum of money Rs. 2,86,374 (Two lakh eighty-six thousand three hundred seventy-four rupees) in 12 instalments.I have paid all the instalments within scheduled date.After paying all the instalments on time, the court has provided me a letter to ensure that there is no any amount remaining on the loan holder.
I have requested the branch bank manager to provide me also no dues and no objection certificate from bank.He refused to do so and not receiving my application .He is also not ready to give me the written cause of not receiving the application.Even the bank is refusing to provide my own passbook and trying to keep me in dark.
Few points regarding the issue-
1. As per RBI guidelines ,The education loan amount below than 2 lakh, the repayment time duration is 5-7 years after completing course.On which basis the bank suited civil case against me only within 2 year.
2. Since the civil court has written in his letter clearly that there is no amount remaining on this loan account then why does bank refuses or delaying to provide me no dues certificate?
3. Bank is not giving me even my loan account passbook .When I am trying to apply for passbook and no dues certificate manually the bank manager refuses to accept the application and arbitrarily not giving me it's written reason.
4. My education loan amount is below 2 lakh. Can a civil suit be file on PSL.
5. As per RBI guidelines the education loan within 2 lakh,there is no need of any security. Then,on which basis the civil suit filed against my father,my mother and me with the sense of warning on my/father/mother’s property?
please give your valuable sujjestion.