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Coimbatore

Stop threatening students on educational loans, banks told

Covai Post Network

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Coimbatore : CPIM MP, P R Natarajan Thursday said that the banks should stop pressurising and threatening students to repay the instalment of educational loans they had taken.

In a statement Naratajan said that he was receiving a several complaints from students and parents that banks were exerting pressure, rather threatening them for repaying loans.

The loans were taken with a hope that it could be repaid after getting jobs on completion of education. However, the wrong economic policies of the Government not only deprived them of jobs, but also those in the jobs were retrenched due to economic slow down, Natarajan said.

Alleging that the Government had failed to fill the vacancies in its various departments, Natarajan, representing Coimbatore constituency, said that instead it was filling the jobs on contract basis.

Considering the seriousness of unemployment, the banks should stop continuous threatening of students and parents and refrain from seizure of property. At a juncture when even industrialists were seeking time to repay their loans due to the economic slowdown, it is unfair to be harsh on students, Natarajan said.

A student, Lenin of Madurai in Tamil Nadu had recently committed suicide due to pressure from banks, which were waiving loans of the Corporates and other companies, but pushed students to suicide, Natarajan added.

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