Adv. For the Complainant - Self
Adv. For O.P1&2 - Sri Asit Sarangi
Date of filing of the Case -08.09.2020
Date of Order - 08.12.2022
JUDGEMENT
Smt. Jyotsna Rani Mishra Member
Facts of the Case in Nutshell -
Complainant is an educated brilliant youth After completion of his Bachelors Degree Course entrust for higher study in the stream of MBA but his father was unable to arrange finance for the said study because of his small earning for livelihood Because of the aforesaid reason the
-2-
Complainant constrained to avail educational loan from the OPs and accordingly went to O.P.1 and contract them and requested for sanction of educational loan in his favour.
According to the advice of O.P. No.1 the complainant complied all the formalities as required by the OP for sanction of loan and after receiving all the required documents including annual income certificate of his father the OPs have sanctioned a loan of Rs 3 95 000 on dated 05.07.2017 vide loan No. 479800JB00000293. Customer Id No. HCNO14495,. Account category TL education EMI. The said loan was to carry per annum and the same was to recover after a moratorium period of one year from 05.07.2020 after one year of completion of the MBA course. Out of the sanctioned amount the O.P have disbursed Rs 2 42 000 on 07.07.2017 Rs 1 45 000 -in favour of complainant and have adjusted Rs 7 681 on dt. 13.12.2017 towards PNB MetLife Rs 600 on dated 05.07.2018 towards process fees and in this way they have disbursed a total sum of Rs 3 94 681 in favour of complainant . As per the scheme of said Educational loan if the annual income of a loan is below Rs 4 20 000. He is entitled to get interest subsidy. The annual income of his father is Rs 84 000 per annum as per the annual income certificate issued by the concern authority therefore the complainant is entitled to get interest subsidy from the Ops under beneficiary scheme implemented by the government. The complainant completed his MBA course and passed out in July 2019 and search for a job and he got a job in Bajaj Finance . He joined in this service on dt.05.08.2019 He started Payment of installment before the moratorium period and paid Rs. 9000 on dt.11.03.2020 which include 1st installment and some amount of 2nd installment and those after payment of installments are going on till date. During June 2020 Complainant intend to know about status and recovery of his loan schedule because of this payment before moratorium period to the Op and requested him to supply a recovery statement but Op refuse to supply the some but however shown the disbursement and recovery statement forwarded their computer from which the complainant look it writing manually . After going through the statement complainant bearer astonished suing the statement because OP has not given interest subsidy and adjusted the same against the loan amount .
After the aforesaid development the complainant asked the O.P. No. 1 as to why interest subsidy has not been deducted against the disbursed loan amount but the Op1 has not given any satisfactory reply . lastly OP1 stated that he will look in to the matter and will conduct with OP2 for getting interest subsidy . Till the end of July 2020 the OPS have not adjusted subsidy against loan amount. Then the complainant given a written complainant on dt 04.08.2020 before the OP1 for making any solution over matter . But on 05.09.2020 again complainant went to the O.P1 know about the said interest subsidy but the Op1 replied in a evasive avoid manner thus the complainant suffered mental tension and return back from the OP 1 basely .So complainant suffered financial loss and mental tension because of construed to knock the door of commission.
The complainant relies upon following document for the present disputes .
1. PNB MetLife loan and life Suraksha Certificate Insurance.
2. Annual income Certificate of his Father.
-3-
3. Central Sector interest Subsidy Scheme 2009
4. Complainant Bank State of PNB.
5. Certify copy of OP1
The reason cited by Opposite parties denied all the allegations. They Stated that after submission of the claim PNB was responsible to explain what has been admitted by its for getting to be interest subsidy amount from the authority concerned. It attributed deficiency in service by PNB.
Taking all the evidence and argument plaid on record into consideration the commission assume that deficiency in service is based on the admission of Op, in its written version as not arranging the interest subsidy amount on education loan availed by the complainant and states that it is duty of Bank it is not acceptable .
ORDER
District Commission directed PNB to pay Rs.01 14 253 - the interest subsidy on an educational loan The commission held that the Bank was deficient in service for not having arranged the interest subsidy amount to the complainant. Apart from ordering paying of interest subsidy amount and compensation cost of Rs.10 000 were imposed and interest from the date of moratorium period of payment of installment. And to pay Rs.20 000 for mental agony and physical harassment and Rs.1000 for litigation charges.
This order be complied with OP within one month the date of receipt of this certified copy. Failing which it shall make payment of amount above within 12 percent interest per annum from date of filling the present complainant till realization.
PRONOUNCED IN THE OPEN COMMISSION TO DAY 8th day of December 2022.
Sd Sd
R.K.TRIPATHY J.MISHRA
PRESIDENT I .C MEMBER.
