Madurai : The Madurai bench of the Madras high court has warned banks against rejecting educational loans based on the credit report of the applicant's family, saying such actions would attract contempt of court proceedings.
Allowing the plea of M.Hariharasudhan, the court asked Indian Bank to direct all its branches in Tamil Nadu to refrain from rejecting educational loan applications citing reasons outside the scope of then Centre's scheme. Justice M.S.Ramesh said the court was constrained to observe that nationalised banks had been rejecting loan applications citing the CIBIL ( Credit Information Bureau (India) Limited ) reports of the students family members. " In my view, such reasoning would amount to wilful disobedience of the orders of this court, for which the concerned bank would be liable for contempt ".
( Sunday Times, Chennai, April 22, 2018 )
Courtesy : MPS
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