Dr.B.K.Sharma,
For
14,
Tel. +44(0)1922 629842 Fax. 01922 632942
Email: Gwalior.Hospital@
(alternative e mail: snehalaya.gwalior@
Website: www.helpchildrenofi
If you like to know details for work carried out from 1998 to 2007 and for reference visit, www.gwalior.
To help and provide for poor, underprivileged, disabled and destitute esp. Children, Women and The Aged of Gwalior and Chambal region, one of the most deprived regions in
From: India_Vision_
Sent: 06 July 2010 08:46
To: India_Vision_
Cc: natadreams@gmail.
Subject: [SPAM] [India_Vision_
(Moderator's Note: After release of this information, we have been getting offers to support this girl suganya. Now that we have complained to RBI, IOB Manager called me to say that they would release the loan immediately without insisting on payment of earlier interest. it is not a great favour from IOB. They will follow the guidelines only. Dream India is already supporting her. Those who want to support this girl, may contact Mr Natarajan, Founder, Dream India over natadreams@gmail.
Folks,
The ideal way to tackle this issue is to lodge a formal complaint with the Banking Ombudsman.
http://www.iob.
This is the only route open if we want a response. For this specific case, I am willing to pay Suganya's interest so her education does not stop.
Please let me know the point of contact and I will take it up with that person.
Thanks
Nitin Shenoy
--- In India_Vision_
>
> Sir,
>
> This is atrocious. Education only relive all the crimes in the society. If
> the education itself is not reach the poor, then any country,society will
> grow with criminals. So the IOB managment should take the necessary action
> against its representatives. And they should follow the proper guidelines.
>
> This is really painful.
>
> Regards
> Anand.
>
> On Mon, Jul 5, 2010 at 9:52 PM, PNVENKATARAMAN PNV <pnvraman@...>wrote:
>
> >
> >
> > Sir,
> >
> > I am pained to read the sufferings of a poor stundent in the hands of the
> > IOB Management.when Govt has formed proper guidelines for Educational Loans,
> > IOB is forming their own set of rules. This approach goes against the very
> > purpose of Eductional Loans to poor section of the society. But for the
> > timely help of ELTF, such episodes would go unnoticed.
> >
> > It high time RBI should take stringent action against the top Management of
> > IOB for such violation of the laid down guidelines at all their branch ,
> > and their attitude in making innocent Branch Mangers as scape goats should
> > be condenmend
> > P.N.Venkataraman
> >
> > --- On *Mon, 5/7/10, Corporate Ezine PRe-Sense <prpoint@...>* wrote:
> >
> >
> > From: Corporate Ezine PRe-Sense <prpoint@...>
> > Subject: [prpoint] Blatant violation of edu loan guidelines by Indian
> > Overseas Bank (IOB) and in-human approach towards poor students
> > To: cmd@..., "RBI Deputy Governor Dr K C Chakrabarty" <
> > kcchakrabarty@
> > ushathorat@.
> > "RBI CGM RPCD B P Vijayendra" <bpvijayendra@
> > prpoint@yahoogroups
> > India_Vision_
> > Loan Task Force ELTF" <action2020eltf@
> > Media Forum" <new_media_forum@
> > nupurmitra@.
> > renukamr@...
> > Cc: "MP Hansraj" <hansraj_ahir@
> > ramasubbu@..
> > "Maitreyan MP" <maitreyan@..
> > raghavachari.
> > jamesisaaac@
> > sachin197353@
> > Unnikrishnan" <unni@...>, "Prabhuts" <prabhuta@...>
> > Date: Monday, 5 July, 2010, 8:18 PM
> >
> >
> >
> > *Requesting RBI to conduct a thorough investigation of edu loan accounts
> > with IOB and other banks for blatant violation of guidelines.*
> >
> > dear friends
> >
> > Probably members are aware that our ezine PreSense and India Vision group
> > has set up a new initiative "Education Loan Task Force" (ELTF) few months
> > back, to safe guard the poor and brilliant students from the harassment of
> > banks, when they seek education loan and to create awareness. We have been
> > getting lot of complaints about (a) insisting on security for edu loans
> > lower than 4 lakhs and (b) forcing the poor students to pay monthly interest
> > as a pre-condition to disburse next instalment of term fees, in violation
> > of guidelines. Very sadly, even the Regional Offices and head offices are
> > also party for such violations. All the guidelines are available in ELTF
> > site www.eltf.co. cc <http://www.eltf.
> >
> > Today, we received one heart breaking complaint through Dream India, one
> > of the partner organisations of Action 2020 Team (appended below this mail).
> > Though we have been receiving similar complaints earlier, we thought of
> > sharing this openly with all the members of prpoint, new media forum,
> > TEJOUS, India vision group and action2020, as none of our earlier mails to
> > Chairman of IOB, were responded by IOB.
> >
> > Second purpose of this mail is to create awareness about the education loan
> > among our members and society through media, word of mouth and social media.
> > .
> >
> > We are also endorsing a copy of this mail to Deputy Governor of RBI, few
> > Members of Parliament, Consumers Association of India. We have also met
> > earlier few MPs who have agreed to raise this important issue in the coming
> > monsoon session of Parliament.
> >
> > *Case study of Suganya, a edu loan borrower of Indian Overseas Bank:*
> >
> > Ms Suganya hails from a very very poor family and her father died long
> > back. Her mother is not mentally stable and she is living in a home. This
> > girl is staying with her grand mother, who receives an old age pension of
> > Rs.400/- from the Government. Dream India has been supporting her for her
> > studies. After securing excellent marks in Plus Two, Suganya joined B.Sc
> > Micro Biology course in a college. She had approached Indian Overseas Bank,
> > Venkatnarayana Raod, T Nagar, Chennai in 2008 and got a loan sanctioned for
> > Rs.90000/ ( Rs.30000 per year for three years).
> >
> > Though guidelines strictly prohibit recovery of monthly interest from the
> > edu loan students, all the branches of Indian Overseas Bank always force
> > all the students to pay interest. In 2009, when she had to pay the second
> > year fee, IOB forced her to pay the first year interest, in violation of the
> > guidelines. Inspite of her pleading that she was from a poor family and
> > explaining her background, the bank mercilessly insisted the payment of
> > interest, as a pre condition to disbursement of next installment. She had
> > to borrow a sum of Rs.5000/- at huge interest of 60% from private money
> > lender to pay the bank interest. Such inhuman approach by banks defeat the
> > very purpose of the scheme.
> >
> > Suganya has been approaching IOB Manager for the past two months for the
> > release of third year fees of Rs.30.000/-. The bank was insisting on the
> > payment of interest of Rs.7000/-. The college started 15 days back. Since
> > she did not pay the third year fees, the college did not permit her to
> > attend the college. Unable to comply with illegal conditions of IOB, she
> > discontinued her studies. Due to inhuman approach of the bank officials.
> > she started working as a 'sales girl' in a textile shop.
> >
> > When the matter was brought to our knowledge this morning by, Dream India,
> > we asked the girl to meet the Manager again with a request. Whenever, such
> > complaints come to us, we request the students to talk to the manager with
> > the same request, keeping their mobile phone 'on'. This would enable us to
> > overhear their conversation. Accordingly, we requested Suganya to meet the
> > manager and request him to release the final instalment of fees. .
> >
> > We heard over phone that the manager was insisting on the payment of
> > interest, as a precondition to the disbursement of next instalment. He also
> > said that it was their bank rule. Subsequently, I also spoke to the
> > manager to ascertain the facts. He also confirmed that he had to approach
> > the Regional Manager to permit her not to pay interest and he insisted on a
> > letter from the student.
> >
> > As suggested by us, she has today submitted a letter to IOB with a request
> > to permit her to pay interest after the completion of studies (as per the
> > guidelines) and also seeking refund of earlier interest paid by her.
> > (please remember she borrowed at 60% interest earlier to pay IOB interest
> > due).
> >
> > It is sadly surprising that IOB insists on a letter to make them follow
> > the guidelines. It is also surprising that branch has to seek permission
> > from Regional Manager to follow the guidelines. Normally, only when the
> > branch wants to violate the guidelines, they have to seek permission from
> > higher officers. This clearly indicates the lack of 'governance' by IOB
> > Management. . :
> >
> > The guidelines are very clear about payment of interest by edu loan
> > borrowers. The interest has to be calculated and added to the principal,
> > one year after completion of studies or 6 months after getting the job,
> > whichever is earlier. Principal and interest should be added together and
> > EMI will be fixed. Branch Managers are required to implement the
> > guidelines strictly. Instead, IOB Head Office, probably, does not want the
> > guidelines to be followed by branches and hence, they are keeping the
> > guidelines away from the branch managers.
> >
> > Though, we are dealing with many banks, we find it extremely difficult to
> > handle IOB, as they are not communicative and never bother about RBI or
> > Government guidelines. I do not hesitate to blame the *Chairman and the
> > top management of the Bank* for such violation of guidelines and their
> > insensitivity to the poor students. Finally, when complaints are sent, the
> > poor branch managers will be made as a 'scape goat' by these top people, to
> > escape from actions.
> >
> > This is not the only case from IOB. We have been getting lot of such
> > complaints from various people about the violation of guidelines by IOB at
> > all branches. We even took up the matter with RBI to conduct a thorough
> > investigation of IOB and to take disciplinary action against the senior
> > officials, who violate the guidelines. The mail to Chairman of IOB also did
> > not evoke any response earlier. When such violations are seen across the
> > branches, even after our taking up the matter with RBI, we have to blame
> > only the Chairman and Executive Directors of the Bank for their
> > insensitivity to such an important issue. .
> >
> > *Appeal to RBI*
> >
> > Unless an action is initiated against the top management people like
> > Chairman, such blatant violations will continue in our system.
> >
> > This is only a sample case, as to how banks treat the poor students. We
> > have been receiving such complaints against other banks also.
> >
> > *Appeal to members and media *
> >
> > Through this mail, I request all members with social consciousness , to
> > write a mail to RBI Deputy Governor Dr K C Chakrabarty to investigate all
> > banks in India for such violation of guidelines, which defeats the very
> > purpose of the scheme by Government and RBI and thereby causing harassment
> > to poor students like the one described above.
> >
> > We also appeal to media friends to highlight such cases of violation
> > through media to create awareness among poor students and banks. Earlier,
> > in an exclusive interview to PreSense, Dr Chakrabarty has advised us to
> > bring his notice such violations, so that deserving poor students are not
> > harassed. He also said in the interview that no poor student should be
> > denied an opportunity to study further, because of his poverty. (In
> > Suganya's case, IOB has denied her opportunity to continue her education and
> > made her to go for work)
> >
> > You can click 'reply to all' and send a mail to all.
> >
> > *Conclusion *
> >
> > If ELTF had not taken up this issue now, Suganya would have silently
> > discontinued her studies and she would have remained as a sales girl in a
> > textile shop. Still we are awaiting response from IOB for her request.
> > There may be thousands of such Suganyas in India, suffering silently
> > because of inhuman approach of the banks like IOB and without knowing what
> > to do. ELTF insists all the banks to follow the guidelines given by RBI/IBA
> > and not to violate even one mm.
> >
> > Let us spare one minute, by sending mails to RBI or by creating awareness
> > through media to safeguard such 'faceless' poor and brilliant students.
> >
> > Srinivasan
> > Editor in Chief, PreSense www.corpezine. com <http://www.corpezin
> > Convenor, Education Loan Task Force www.eltf.co. cc<http://www.eltf.
> > 91766 50273
> >
> >
> >
> > ---------- Forwarded message ----------
> > From: Natarajan Raman <natarajan.raman@ tcs.com<http://in.mc632.
> > >
> > Date: Mon, Jul 5, 2010 at 5:29 PM
> > Subject: IOB T.Nagar Branch Forces Students to Pay Interest on Education
> > Loan
> > To: action2020eltf@ gmail.com<http://in.mc632.
> > Cc: natadreams@gmail. com<http://in.mc632.
> >
> > Dear Sir,
> >
> > Student Suganya is doing her B.Sc Micro Biology at Apollo Arts Science
> > college, Chennai. She has got approval for education loan amounting
> > Rs.90,000 for all three years [ 30K per year ] from IOB, Venkat Narayana
> > Road, Chennai. After the first release of the payment, the student was asked
> > to pay interest amount of Rs.5000 for the second disbursement. She was
> > forced to borrow loan outside at a whopping 60% interest.
> >
> > Currently, she is in third year. She has scored 70% so far and when she
> > approached the bank for her third year loan payment, she was asked to pay
> > Rs.7000 as Interest. Suganya is survived by her mother and grand mother. Her
> > father passed away while her Mom has some mental illness. Her grandmother
> > gets pension of Rs.400 from government. With the only source of income being
> > this, the student had to discontinue her education and had to work at a shop
> > in T.Nagar. The student is a passed out from SV Home for destitute children,
> > the home which is supported by Dream India, one of the partners of India
> > Vision2020 group.
> >
> > Today, she had a discussion with the IOB manager of T.Nagar branch. The
> > manager explained that he is new to the branch and as per her loan terms she
> > has to make payments towards interest for further disbursal. She has
> > submitted a request letter to approve her loan and allow her make the
> > Interest payment along with the principal. The manager is yet to come back
> > on this.
> >
> > We have seen many such cases of IOB violating RBI guidelines and taking the
> > students for a ride. I request you to take this mater with the concerned
> > authorities and help the poor student continue her education. The amount of
> > agony she had to undergo cannot be explained in words. I also request you to
> > make the bank repay the 5000rs interest payment she was forced to make for
> > the loan disbursement last year.
> >
> > Thanking you,
> > Natarajan Raman
> > ELTF - Co-Convenor
> >
> >
> >
> >
> >
>
>
>
> --
> Regards
> Anand
>
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