Banks are shying away from giving education loans and the Reserve Bank of India’s Office of the Banking Ombudsman (OBO) in Chennai says more than 50 per cent of complaints regarding loans and advances pertains to banks’ denial of education loans. Addressing reporters here on Friday about OBO’s annual report, RBI Deputy General Manager Suman Nath and Banking Ombudsman S Ganesh said their office received 6,877 complaints relating to loan and advances. Of these, over 50 per cent pertained to denial of education loans. It is only after the intervention of the OBO that banks started processing the loans, said Nath.....
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