G.H. Rao, Assistant General Manager, Reserve Bank of India, has said that there is no restriction on service area for banks to extend education loan to eligible customers. The service area limitation is applicable only to government-sponsored schemes. Speaking at the district-level bankers’ committee meeting here on Friday, Mr. Rao said that people could obtain an education loan from any bank branch of their choice, irrespective of the location of their residence. “No bank can reject a loan application on the grounds that the residence of the applicant is out of the bank’s service area,” he reiterated...............
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