Consumer Issues
'SBI's loan repayment norms for poor students obnoxious'
Chennai : A wilful defaulter of a Rs.9,000 crore bank loan can be a member of parliament but a poor student who had defaulted on education loan due to economic/family circumstances is barred from applying for a clerical job in State Bank of India (SBI), which is obnoxious, said a top bank union leader.
 
After naming and shaming education loan defaulters, SBI is now preventing them from applying for clerical job in the bank which is patently wrong, said a top bank union official.
 
"The SBI in its notification for hiring junior associates and junior agricultural associates has barred candidates with record of default in repayment of loans/credit card dues or against whose name adverse report of CIBIL or other external agencies are available from applying for the job," C.H. Venkatachalam, general secretary, All India Bank Employees' Association (AIBEA) told IANS.
 
"Candidates against whom there is/are adverse report regarding character & antecedents, moral turpitude are not eligible to apply for the post," SBI notification said.
 
"The SBI's condition is obnoxious and unfair and has to be changed. The economy is not doing well and as a result the corporate loans are turning bad or non-peforming assets (NPA). As a result, freshers are not able to get a job and unemployment is high," Venkatachalam said.
 
It is ironical that Vijay Mallya owes around Rs.9,000 crore to SBI and other banks is a MP despite being declared by banks as wilful defaulter but a poor student who might have defaulted on loan for genuine reason is prevented from applying for a clerical job by SBI, Venkatachalam remarked.
 
"A fresh graduate cannot repay his education loan if he does not get a job. And if hiring organisations like SBI bar such candidates even from applying then how can they repay their loans. Normally a fresher will only have education loan against his name," he added.
 
"Genuine borrowers will be affected by SBI's condition. In fact, banks do not maintain their accounts and there has been cases where a student who has not completed his course has been classified as NPA by the banks," K. Srinivasan, convenor, Education Loan Task Force (ELTF) told IANS.
 
According to Srinivasan, education loans are classified as NPA's for non-payment of interest subsidy by the central government.
 
The ELTF guides students on rules and regulations governing education loans offered by nationalised banks free of cost.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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COMMENTS

R.Asokkumar

1 year ago

It is a pity that Vijay Mallya is becoming an inspiration for all loan defaulters. Are people aware that the students who get settled with well-paying jobs also do not repay? Probably the Banks should distinguish between the wilful defaulters and unemployed among the beneficiaries of educational loans. While restructuring should be done for the latter category, stringent action should be taken against those who refuse to pay even after landing in a cushy job

In parched Maharashtra, BJP-Shiv Sena compete as mass match-makers
Mumbai : Maharashtra's ruling allies, the Bharatiya Janata Party and the Shiv Sena, have evolved a new strategy to win the hearts of the agitated people of the state's drought-hit regions - by arranging mass-marriages of young couples.
 
Though both parties are tied in an uneasy wedlock in the Maharashtra government, they have gone their 'separate' ways for performing the mass marriages.
 
On Saturday (April 16), Shiv Sena President Uddhav Thackeray played 'godfather' and performed the 'kanyadaan' for 244 couples at a lavish mass-marriage organised in Aurangabad.
 
"The couples were 194 Hindus, eight Muslims, 42 Buddhists and mostly belong to farmers' families from villages in the drought hit Marathwada region of the state," local party MP Chandrakan Khaire told mediapersons.
 
The marriages were solemnized as per their own religious customs and the Shiv Sena engaged the services of 51 brahmin priests, eight maulvis and 11 bantejis for the couples from various communities.
 
Maharashtra Governor C.V. Rao was the chief guest at the event in which 244 demure brides and their grinning grooms, accompanied by their family members and close relatives, sought his blessings.
 
Besides a sumptuous wedding feast, each couple was gifted a set of wedding attire, gold jewelery including a 'mangalsutra' and 76 household items and utensils worth Rs.100,000, Khaire added.
 
Last year, when Thackeray toured the drought-hit regions, he was moved by the plight of the people and decided to launch the 'Shiv Sena Pramukh Balasaheb Thackeray Kanyadan Yojana' which would organise the all-expenses-paid, multi-religion, mass-marriages.
 
Not to be outdone, the BJP also organised its own independent mass-marriage ceremony on Sunday (April 17) in Jalna where a whopping 551 shy couples happily tied the knot.
 
Chief Minister Devendra Fadnavis, BJP state President Raosaheb Danve, several cabinet ministers and top party functionaries were present on the occasion to bless the newly-wedded sea of couples in a special marquee erected in the town.
 
"We received over 700 applications for the mass-marriage function, mostly from poor farmers families. From those, we shortlisted 551. The remaining were rejected on various grounds, including under-aged boys or girls, or applicants with doubtful credentials and the like," said BJP official Mukund Kulkarni.
 
Elaborate arrangements were in place for the Sunday evening mass-wedding ceremony with a variety of goodies for the marriage feast and ample parking for the invitees, estimated to be over 100,000, and VVIPs et al.
 
Since January, thousands of families in the drought-hit regions of Marathwada, north Maharashtra and Vidarbha have been forced to either cancel or postpone the wedding plans of their sons/daughters, mainly due to shortage of water and poor financial conditions.
 
After visiting the drought-hit regions last year, Thackeray announced that the Shiv Sena would shoulder the responsibility of marrying off the eligible boys and girls in the affected regions.
 
The plan was formalised in December 2015 and the first initiative was kicked off with a mass-marriage for 333 couples in Parbhani on February 28, followed by another for 244 couples on April 16.
 
Officials from the BJP and Shiv Sena said more such mass-marriage programmes are in the pipeline for other drought-hit districts so that the families are spared of the burden of wedding expenses in these dry, difficult times.
 
Both parties are making all-out efforts to ensure that the marriages are a glittering affair to remember for the young couples and their families.
 
After the function, the couples are sent back with bags full of gifts which include the expensive Paithani silk saris, safari suit pieces, basic items of gold jewellery and pricey watches, a 76-piece set of steel utensils and other household stuff.
 
"The couples should start their new married life together without the tensions and nitty-gritties of setting up a home, so we are giving them a decent start through the gifts…" a Sena official said.
 
The move has earned praises from farmers' activist Kishore Tiwari, the president of the Vasantrao Naik Sheti Svavlamban Mission, who said getting a daughter married is a major contributory factor to farmers' suicides in the state.
 
"Many farmers have committed suicide in the past as they could ill-afford to solemnize their daughter's marriage. The government should announce a full-fledged 'kanyadan' scheme like Madhya Pradesh and bear the complete marriage expenses of youth from poor families or farmers," Tiwari urged.
 
He said that in the current inflationary trends, even low-key marriages in rural areas can set a family back by around Rs.300,000, which is normally borrowed from private sources and when they cannot pay back, the borrowers end their lives.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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COMMENTS

bharati

1 year ago

Also teach the couples about birth control and to wait til better times and prosperity to have a kid. NO ONE should have even one child unless they are fully prepared and able to care for it for 20 years. Don't force people to have children/ especiallygirls they do not want: the life of an unwanted child is much much harder.

Use of steroids for muscle growth causing joint problems in youths
New Delhi : The spurt in usage of steroids and muscle building supplements is leading to several types of joints related ailments in youngsters, including Gout and Avascular Necrosis, according to orthopedecians.
 
According to the doctors, the disorders, if not treated by competent surgeon in time, can lead to lifetime disabilities that are difficult to rectify at later age. 
 
"This is emerging a major health problem for the youngsters. Joint related issues caused due to steroids and muscles building supplements are on rise. In such issues if the surgeries are not performed properly then instead of relieving pain and disability, the situation worsens," said Manoj Sharma, head of orthopaedics at Jaipur Golden Hospital.
 
Doctors have said the excess use of steroids and muscle supplements causes osteonecrosis, loss of blood supply to the bones in the joints. With too little blood, the bone starts to die and may break down. The types of joint related problems it causes are Avascular necrosis, Aseptic necrosis and Ischemic necrosis.
 
Osteonecrosis is most often found in the hips, knees, shoulders, and ankles. You may have osteonecrosis in one or more bones.
 
Explaining Avascular Necrosis, the commonest type of joint problem among steroid using youths, Sharma said: "In this condition, the ball of the hip joint looses its blood supply, shrinks and thus looses it shape and smoothness. This causes immense pain, and the person may even find difficulty in walking."
 
"If diagnosed early with the help of MRI scan, then one may be able to save the hip and be able to treat it with medicines. But once the ball withers, the only possible treatment is surgery; in the form of either resurfacing it or replacement."
 
According to the doctors, 25 percent of the youngsters using steroids for musle growth are on the verge of suffering from Avascular Necrosis, because of its consumption without doctors' advice.
 
Agreed Nirad S. Vengsarkar, ]orthopaedic surgeon at Mumbai-based Lilavati Hospital. He said the problem starts with crippling bone pain, with it becoming severe with time. 
 
Talking about the treatment procedures, he said that though in many situations joint replacements are the only solution, other types of surgical procedures are also available to cure the problem completely.
 
"In a majority of cases, joint replacement is the only solution but, apart from it, other surgical procedures are also available -- such as bone graft, in which a healthy bone is taken from one part of the body and used it to replace the diseased bone. Osteotomy is also available, in which the bones are reshaped to reduce stress on the damaged joint," said Vengsarkar.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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