Now Education Loan is Available From All Banks: RBI
RBI orders to Banks that Do not reject any education loan even if the residence of the borrower does not fall under their service area.
RBI has further asked the banks to issue suitable instructions to their branches or controlling offices for meticulous and strict compliance in this regard. The apex bank issued the notification in view of number of complaints where students were refused educational loan as the residence of the student does not fall under the bank’s service area.