News India Live, Digital Desk:Filling the EMI of the loan becomes difficult at times, and if a single installment is missed, then the CIBIL score is directly affected. Then if you want to take another loan in future, then the bank refuses to see a low CIBIL score. This is a major problem, especially for those students who need education loan for studies and their family’s CIBIL score is probably not as good.
But wait! Now there has been a news from the Kerala High Court that has brought great relief for the students taking education loans, especially for the students and their families. The High Court has given clear instructions to the banks, giving the verdict in an important case.
What has the High Court said to banks?
Kerala High Court has made it clear that bank A student’s education loan application cannot be dismissed only and only on the basis of low CIBIL score. The court says that before giving loans to banks, the student should also guess the ability to earn in future and repay the loan. Also, banks have little in these cases Humanity Should adopt.
The court also said that today’s students are the future and foundation of the country tomorrow. If they will not get a loan to read only because of the CIBIL score, then how will the country move forward? Banks should think about helping instead of obstructing their education.
What was the whole matter?
This decision has come on the petition of a student. The student took two loans from the bank. When some amount of one loan remained, the bank also showed its second loan to the ‘overdue’, causing its CIBIL score to deteriorate. When he needed a loan for further studies, the bank refused by citing a bad CIBIL score. The student filed a PIL (PIL) and pleaded with the court that his future would be in danger due to non -receipt of loan.
High court decision in the right of students:
Hearing this petition, the Kerala High Court gave this important verdict. The court reprimanded the banks and said that they cannot put the future of students at stake by just seeing the CIBIL score. They have to show more understanding and humanism while considering loan applications.
What does it mean?
This decision has hoped thousands of students and their families who were facing difficulty in getting education loan due to low CIBIL score. Now banks will not be able to refuse to give loan only on this basis, they will also have to look at the merit and future prospects of the student. It is a positive step for the right to education and the future of the country.
