Indian Banks Association has now issued a circular advising all the banks to submit any left out interest subsidy claims relating to eligible SC/ST students who have availed education loan from the banks. Since the funds allotted to SC/ST students are not fully utilised, they are now advising all the banks to submit the claims from 1.4.2009 onwards till the financial year 2013-14. This is not applicable for 'General category' students.
The claims have to be submitted by the respective banks before 31st December 2014 to nodal bank Canara Bank. If there are any eligible SC/ST students who have not claimed interest subsidy in the previous years may now avail this opportunity. ELTF requests such eligible students to meet their Branch Manager with a copy of this IBA guideline and complete the formalities.
If the Branch Managers refuse to cooperate or show ignorance of this notification, the eligible students may meet the concerned Regional Manager and submit a written complaint to him. They can also submit a written complaint to the Chairman of the Bank. The last date for submission of claim by the banks is 31st December 2014.
Please spread and share this information, so that eligible poor students can get the benefit of interest subsidy.
IBA circular is attached for information.
Srinivasan
Convenor
Education Loan Task Force
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