[India_Vision_2020] Fwd: AADHAR card not mandatoy for processing / sanction of Education Loans

 

hi

With further reference to my earlier mail, I have just now received additional clarification from Shri Unnikrishnan, Deputy Chief Executive of Indian Banks' Association (IBA).  His mail is appended below for information of members.  

If any Bank Manager refuses to process the Education Loan application for want of Aadhar Card, the matter may be brought to the knowledge of higher authorities.  However, the students should give undertaking to the Bank as per their requirement.  They should also apply and get the Aadhar Card before the completion of the course.

Srinivasan

---------- Forwarded message ----------
From: K Unnikrishnan <unni@iba.org.in>
Date: Fri, Aug 7, 2015 at 9:57 PM
Subject: Re: AADHAR card not mandatoy for processing / sanction of Education Loans
To: Prime Point Srinivasan <prpoint@gmail.com>

Aadhar is not mandatory for sanction of Education loan, but students are advised to submit Aadhar before completion of course

K Unnikrishnan

Deputy Chief Executive, IBA

Sent from my iPad

On 07-Aug-2015, at 20:08, Prime Point Srinivasan <prpoint@gmail.com> wrote:

Hi

We are receiving complaints that some of the banks are not processing / sanctioning the Education loan applications if the applicants do not submit the AADHAR card.  When we sought clarification from the Nodal Bank Canara Bank, Shri Badrinath, AGM, Canara Bank Head Office has responded to us quoting IBA guidelines.  From these guidelines, it is clear that Aadhar cards are not mandatory for processing the education loan applications. Response from Canara Bank:

quote

IBA Mumbai during the revision of Education loan scheme guidelines had advised banks to Obtain UID number issued by  UIDAI ( Aadhaar ) to the students and note the same in the System.

Accordingly we had  issued guidelines to the branches to prevail upon the students to submit the PAN/AADHAAR card particulars before completion of the course.

Wherever a student is not having UID number, branches are advised to obtain undertaking letter from the student for submission at a later specified date. However, the disbursement in subsequent years should not be stopped for the said reason. The same should be followed up till submission for noting in records. 

From the above , it is clear that obtention of AADHAAR card is neither mandatory nor a condition for sanction of loan.

UnQuote

Srinivasan

Convenor

Education Loan Task Force

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Posted by: Prime Point Srinivasan <prpoint@gmail.com>

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