A complaint - Educational Loan at Punjab National Bank

From G.Dhandapani, #5, OmSakthi Nagar, Chitlapakkam
Chennai-600064 Phone: 044 22232345 mandhras@gmail.com

To Hon’ble Finance Minister [MR. P. CHIDAMBARAM], Govt. of India.

Respected sir,
My daughter, Ms.D. Ramya having scored 96.3% in TN Higher Sec. Exam., further got allotment in an accredited college of Anna University, SSN College of Engg. As my family annual earnings are around rupees a lac, I have a limitation and needed a certain financial support to educate my daughter. For the reason I approached Punjab National Bank, East Tambaram contacted the manager Mr. Ramakrishna, for an educational loan. The manager did not respond with reverence to directions of the principle of PNB’s website details, which compelled to make a complaint. I have earlier sent an e-mail dated 16th , June’06 to all the PNB HQ and officials, clearly requesting an end to dodging and irrelevant documents, terms and conditions almost obstructed questioning as I have been posed to, by PNB, Tambaram bank officials.

I have no constraint in providing the bank with the details (marked below) as referred in the checklist of PNB’s VIDYALAKSHYAPURTI educational loan, referred in your website [boxed below]. I am not clear to avail form PNB’s point of view and my chances of getting this loan as per website details.


• Loan application on Bank's format Available = filled in
• Passport size photograph Available = 2 nos.
• Proof of Address (Permanent) / ID Proof. Available = voter ID
• Proof of Age. Available = Matric Cert.
• Proof of having secured pass marks in last qualifying examination.
Available = 96.3%
• Letter of admission in professional, technical or vocational courses
Available = copy of [Anna University allotment letter to SSN College of Engg.
• Prospectus of the course wherein charges like Admission Fee,
Available = Receipts &
Examination Fee, Hostel Charges etc. are mentioned.[Bonafide certificate]
• Details of Assets & Liabilities of parents.(Self-declared)Available

In case loan amount is above Rs.4.00 lacs Not applicable = X
Particulars of Guarantors and details of their Assets & Liabilities.
If immovable property offered as Collateral Security –
copy of Title Deed, Valuation Certificate and
Non-encumbrance Certificate from approved Lawyer of the Bank.
Photocopy of Passport & Visa, in case of study abroad. Not applicable = X
Any other doc. / inf., depending upon the case & purpose of the loan - Not clear = X
(Above LIST is only illustrative, not exhaustive.
For details, pl. contact our nearest Branch.)

After going through the above available papers the manager insisted the following.
1. Guarantor with his salary certificate, IT returns and PAN details -I objected what necessitates for guarantor as my requirement only below Rs.3, 00,000/-. The manager proportionate the loan with accrued interest after 4 stipulated years of the course. I interpreted that the government or IBA would not have positioned or framed such condition like adding interest to educational loan at the initial stages itself. The manager did not accept that as a fact.

2. Parents IT assessment details for the past three years -Mother is employed in Southern Railway; father is unemployed. However the Form16 [latest given by the employer is available and handed out], which clearly indicates the tax details. IT assessment details for the past 3 years with TDS details also provided in it.

3. Parent’s salary certificate from employer. Mother salary is credited to this bank account through ECS every month [years together] and relevant pay slip presented for reference. The manager said no to substantiate it.

At this stage if the manager or the bank, with which I am keeping Savings Account since its inception here, (say nearly 8 years) can act so unconcernedly, utter ridiculous in its customer relationship, is it not? A nationalized bank bestows its customer a dismal conviction, after all when approached for an educational loan. If such things are required, I approached the bank well in advance and solicited for loan, why did not they advice me then for the necessary documents, to its customer.

The manager continued to defy me, he has been holding the esteem as manager, not by any meager means that should in case a complaint exaggerated from me, and he would tackle it. The manager as well made a point to his sub-ordinate (Mr.Chinnaraj) that he had already relaxed and violated many a stipulated details and documents apart from the above stated. Mr. Chinnaraj confided to bring the guarantor’s duly attested pay-slip, bank statement, property details with Xerox copies authenticated, assets and liabilities details. For which I retorted objection and mentioned not to torture this length and made clear the agreed guarantor would chide at these things strongly. But the manager interrupted and daringly informed not to worry myself about the guarantor and replied that he would confront the guarantor for the requisite needs with wiliness of their mode.

Nevertheless, the manager in his post questioned the Finance Minister’s very statement of easy and liberalized educational loan is not from his [FM’s] pocket. Comprehensively, I feel that Hon’ble FM relaxed the norms to give the fillip to education, but when the authorities take axe-like how not to give decisions, leave the students and their associates who almost reflect and furor a disgrace to the ministerial recommendations.

Notwithstanding this, I did approach the other banks too, [SBI, IOB, Syn., IB etc.] around my place of domicile, all of them singled out a reason every nationalized bank’s obligatory to provide on priority the educational loan, but when they wanted to distinguish the sincerity of the need to come at them for the particular loan only, when all along I am having an SB a/c with PNB, East Tambaram, Chennai. Or else, the other bank wanted to have consent from PNB clearly explicating the grounds. I can solemnly understand the other banks’ submission.

At the outset, running out of time, with no alternates, I succumbed to PNB’s demand and arranged a guarantor with great difficulty. Difficulty due to many a terms and conditions posed even to guarantor who comes in support of a purpose which almost made me ricochets, and disappointed. The guarantor came and signed and how he was ground would take another letter in length, to which I detach any importance at this point. Microscopically, the quest for documents continued to spur one after the other asking irrelevant and needless details which could imbibe time at the instant.

As I have been imposed to many an hardship by the most unconcerned manager in Mr. Ramakrishna and as well by his sub-ordinate here, Mr. Chinnaraj, the request with this I profound, the cost of my daughter’s education to be borne as cost to PNB’s, no questions asked.

Hon’ble FM, I am pleased to mention your quotes “Even if one-half of the allegations made are correct, it is a very bad case of an irresponsible attitude of the Manager of the branch of the bank. Please give the name of the bank and the branch to me. I will take action.… “ .
I hope this incident is 100%, befits your declaration made, as follow vide: DATE: 29-04-2005
TYPE OF DEBATE: SPECIAL MENTION KEY WORDS: Students, Welfare
TITLE: Need to give educational loans to the poorer section of the society.
PARTICIPANTS: Shri Aruna Kumar Vundavalli , Smt. Daggubati Purandareswari

Even to fabricate a nature of this sort it needs a novelist, thus happened in reality. In fact, there are still to mention that would be discreet. We could find no way to handle when these managers as they disown the very idea of implementing the Hon’ble FM’s assurance in parliament and subsequently put my daughter, family and guarantor, all in vulnerable state through a mental strain and apathetic.

Blessing to my request, please be ordered into trust for so many unearthed truths and I am thankful, greatly for the same.
Yours sincerely

Dated: Aug. 17, 06, Chennai-600064
Encl: complaint dt.16/06/06 & copy of parliament debate G Dhandapani
Copy through e-mail: PNB Headquarters’ Offices, By post: Zonal office & Tambaram branch.