My advice to people is that they should not give in to the demand for bribe. Complain. Remember, in addition to the nodal officers of the banks, the RBI has nodal officers for grievance redress at its regional offices and also a nodal officer at the central office to deal exclusively with all educational loan issues and grievances. (rbi website: www.rbi.org.in). You can also get the contact details from the bank itself.
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