[ Judgement ] No Minimum Qualifying Marks to Avail Education Loans - Madras High Court

Posted by: D Kessal on 7/10/2014 Categories:
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Nationalised banks like Indian Overseas Bank, Indian Bank, State Bank Of India, etc. are providing Education Loans to economically  backward students to pursue Higher Education .

Even though, there is no Acts or Regulations regarding the Minimum Marks criteria for securing Education loans, some banks were rejecting the Education Loan applciations from poor students because of their lower marks.  But, now the Madras High Court has given a Judgement to conclude misery over the qualifying marks to avail Education Loans.  

This judgement is an outcome of case filed by  A.Ravi from Prumanallur, Tirupur District against the IOB Perumanallur Branch for rejecting his sons Education Loan application saying the reason that he secured below 60% marks in Plus Two.

The Judgement clearly mentioned the Union Government Criterias , which were made on 27-09-2012 regarding the Education Loans, but there is not even single line about the Minimum Marks .  The Judges ordered the banks should provide Education Loan to the affected student with in two weeks.

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