Education loans: moves to recover dues opposed

The district unit of the Indian Nurses Parents Association has called for the withdrawal of all procedures by banks to attach the properties in connection with education loans availed.

At a press conference here on Tuesday, leaders of the association warned that if the bank authorities try attaching the houses of those who had availed loans, it would be resisted by forming anti-attachment councils.

They said that following threats from bank authorities, many families are being driven to the verge of suicide.

While there are specific RBI norms that there is no need for any surety on education loans, the bank authorities have forced the loan applicants to surrender their property title deeds at the time of availing the loans.

The leaders said that only if those who had availed education loans get a permanent job and decent salary will they be in a position to repay the loan.

It is because many of those who had availed education loans and passed out from professional colleges are yet to get employed that there is delay in repaying the loans.

The leaders also pointed out that following attachment threats from bank authorities about 28 persons across the State had committed suicide in the near past.

[Source:-TH]

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