Legal Question in Banking Law in India

Hello,

I am a from surat guajrat. i have taken education loan from one of the Central bank of india. as i am preparing for government exams and job requirement i have not paid any interest and installment. and financial condition is not gud and my mother is only earning member of my family and my two elder sister's are also studing. so i have not paid any installment. as per government rules i gets subsidy on interest of bank loan.

before few days bank manager and Asst. Bank manager cames to my home and asked me to start paying the installment and also said that this is the final warning, dont take it easily. and also threatens me that next time "me tumhare ghar ke bahar halla macha dunga".

please give me legal advice me what i do.


Asked on 12/06/15, 11:34 pm

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

07.12,2015

Dear Sir . Madam,

I have already answered your query earlier, but I will answer it further for the purpose of brevity. Since you have availed of an educational loan, you will have to repay your educational loan EMI once you have completed your education. There is no question of any rebate or subsidy in educational loans availed in India. Please give PDC's to the Bank officials in repayment and settlement of your educational loan.

Regards,

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Answered on 12/07/15, 5:53 am


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