EDUCATION
Coming to the aid of a poor farmer's son, who has got MBBS admission on merit, the Madras High Court has directed a nationalised bank to accept his family's farm lands as collateral security and grant him Rs 25 lakh educational loan.
Coming to the aid of a poor farmer's son, who has got MBBS admission on merit, the Madras High Court has directed a nationalised bank to accept his family's farm lands as collateral security and grant him Rs 25 lakh educational loan.
Allowing a petition by S Sampathkumar of Salem district, whose loan application was rejected on the ground that farm land cannot be accepted as collateral security, Justice Pushpa Sathyanarayana directed Indian Overseas Bank to extend the financial assistance within a month.
"As the educational loan is being taken for pursuing the medical course, the bank should have extended its help to him, especially when there is no embargo for granting educational loan against the agricultural property as collateral security," the judge said in a recent order.
The judge said the purpose of education loan scheme itself was to encourage students pursue higher education, besides strengthening the status of financially oppressed people by providing them financial assistance.
If the financial assistance was recoverable in future from the petitioner himself, the bank need not have any apprehension in extending it.
"When there are a lot of philanthropic and welfare schemes offered even by banks, these kinds of special cases may be considered by them leniently and encourage the student community to pursue their goals," the judge said in the order.
Sampathkumar had scored about 95.75 per cent in the higher secondary examination and got admission in a medical college in Navi Mumbai based on marks obtained by him in the entrance test.
(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)
'India, US stand firmly together in fight against terrorism': PM Modi
Ranveer Allahbadia hires Ex-Chief Justice of India's son as his lawyer, approaches Supreme Court
CanCentra Review 2025: Scam Or Legit Trading Platform? - Canada Facts!
PAFI Kabupaten Gunungkidul Launches Pharmacist Training Program to Elevate Healthcare Standards
Oswal Energies introduces Advanced Clean Energy Solutions at India Energy Week 2025
Top 5 Astrologers in India: Meet the experts who are shaping the future of Astrology
Don't Drown in the Decibels: A Cautionary PSA for Web3 community
BitGo's IPO Ambitions: A Bridge Between Traditional Finance and the Web3 Frontier
'Will sue': Mexico President Sheinbaum threatens legal action against Google over this reason
Urfi Javed gets engaged? Ring ceremony photos go viral, leaves fans speculating
With Chief Election Commissioner Rajiv Kumar set to exit, know who will likely succeed him
The curious case of Junaid Khan: What is different about Aamir Khan’s son?
Zeenat Aman reveals what she eats in a day to stay fit at 73: 'I used to feel embarrassed'
Anti-Valentine's Week 2025: Slap Day to Breakup Day, check full list
'Let's wait and watch': Baba Bageshwar addresses Ranveer Allahbadia controversy
Ranbir Kapoor, Alia Bhatt give couple goals, look perfect in black suit, red saree: Watch
TraderAI Review 2025: Scam or Legit Trading Platform? - Facts Check!
Vishal Dadlani meets with accident, postpones Pune concert: 'We regret to...'
Mallcom Breaks New Ground: Launches its D2C E-Commerce Store
SHOCKING! Man 'dead' in Mahakumbh stampede returns home on his own 'terahvi', asks family members...
Viral Video: Humpback whale swallows Kayaker, but then something shocking happened
IPL 2025 to start on THIS date, Rajat Patidar's RCB to face reigning champions KKR at Eden Gardens
World richest man Elon Musk gave THIS special gift to PM Modi, has SpaceX connection
'Frankly, I've been...': What US President Donald Trump said about Bangladesh crisis?
PM Modi-Trump's new formula: What is MAGA + MIGA = MEGA?
'His hand was over my...': Bigg Boss 18 fame Edin Rose shares SHOCKING casting couch experience
Meet CEO of one of world's biggest IT firms, who will undergo treatment for breast cancer
No bank holiday on Eid al-Fitr this year? Know reason behind this
Indian doctor claims THIS about paneer, milk, prompts debate on social media, netizens say...
Every home of THIS town owns a private jet, has unique street names, it is located in...
'Delight to meet Elon Musk's family...': PM Modi after call-on by Tesla CEO accompanied by his kids
Meet IAS officer, who cleared UPSC exam after getting inspired by Virat Kohli, her AIR was...
Happy Valentine's Day 2025: Wishes, WhatsApp messages, images, quotes to share with your partner
DNA TV Show: World Records in Mahakumbh 2025
Vidya Balan enjoys Sanam Teri Kasam in theatre, pens special note for team: 'Mawra aap kamaal ho'
Meet woman who owns Delhi's most expensive home worth Rs..., not Nita Ambani, Priti Adani