Complaints Regarding Sanction of Education Loan.

Press Information Bureau

Government of India

Ministry of Finance

05-September-2012 18:16 IST

Complaints Regarding Sanction of Education Loan

Public Sector Banks received 5199 complaints in education loans, including those of delay in sanction of educational loans, during 2011-12, out of which 5190 were disposed of and 9 were pending. Complaints regarding educational loans, as and when received by the concerned banks, are taken up for corrective measures.

Model Educational Loan Scheme of Indian Banks’ Association (IBA) provides that applications for educational loans received by the banks are disposed off, in the normal course, within a period of 15 days to 1 month.

This information was given by the Minister of State for Finance, Shri Namo Narain Meena in written reply to a question in Lok Sabha today.

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