......An official with a private bank claimed that the bank does not follow the 'block' or 'ward' concept while deciding on loan applications. "We have reminded our staff to stick to this rule, which is that loans must be sanctioned based on need and not on the locality where an applicant lives. RBI rules have never stated that an educational loan should be sanctioned only by a bank branch located in the same neighbourhood as the applicant. Such an approach by a bank is not only laughable, but also ruins the career and future of the students,"....................
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