Service Area Approach – Educational Loan Scheme

Number of students have been refused educational loan as the residence of the borrower does not fall under the bank’s service area. In this connection, RBI advise that Service area norms are to be followed only in the case of Government sponsored schemes as advised in the circular RPCD.LBS (SAA).BC.No.62/08.01.00/2004-05 dated December 8, 2004 and are not applicable to sanction of educational loans.

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