Chennai, March 11: The Madras High Court has directed a nationalised bank to sanction an educational loan to an engineering student within two weeks and slapped costs of Rs 5,000 on it payable to the petitioner.
The court noted the contention of petitioner R Dinesh, who said that 12 students in the same course with him had secured loans from nationalised banks. Two of them had got loans from branches of the Bank of India, which had turned down his application.
If the branch was not aware of the Centre’s notification and scheme framed by the Centre and Reserve Bank of India it could have sought guidance from its head office, Justice N Paul Vasanthakumar said.
Referring to a High Court order, the Judge said being a nationalised bank, it was bound by the scheme framed by the Centre and RBI.
–Agencies