Hope Banks insist on PAN number in all cases where EDU LOAN is sanctioned. Bank officials can easily locate the defaulters using the PAN Number as almost each and every activity now requires PAN -Hope Bank officials and IT officals coordinate and take action. If people are earning a decent salary they should voluntarily pay the dues- The drive suggested could also bring out false cases sanctioned and siphoned off by bank officials.
I've taken an education loan from SBI during the year 2008, they charged me a 14.25% interest, and I had to payback more than DOUBLE THE AMOUNT what I have borrowed in the following years. Being studied in a Govt. institute, where students taken admission by reservation seats got 50% of their course fees refunded. It felt like I was being charged for their education! The recession of 2009 hit many MBA students like me and we are without a decent job for the next year. Even after paying back more than 50% amount SBI people made the loan NPA and now I even can't do NEFT to the loan account from savings account !! Now they are threatening me to file a case against me !!!
