Vellore MP Abdul Rahman has urged banks to fulfil the government education initiative by extending educational loans to the deserving students. In a statement, Rahman said that the nationalised banks had no right to refuse educational loans to students as it was a welfare scheme of Indian government.
The MP had expressed his concern over complaints received from many students whose applications were turned down by the banks, at a meeting of the bankers held recently at the Collectorate, warning of legal action against banks that refused such loans without proper reason being provided to the applicants in writing.
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