I had applied for an education loan from Allahabad Bank and the Konnagar branch behaved in a totally irresponsible manner. In fact, they took a U-turn on loan sanction right on the day of fee submission. I want to give a lesson to those who played with my career. What do I do?

This is with reference to an education loan taken from the Central Bank of India for pursuing MBA. The loan amount sanctioned by the bank was Rs. 90, 000 – Rs. 1, 00, 000 which did not cover the cost of then course completely. Unfortunately, I fell ill due to chicken pox and could not appear for my papers. I had to repeat the semester due to attendance issues and the fact that I could not appear for my exams. However, due to some personal problems, we could not pay the installment due to the bank. I have now completed my MBA. In the meantime, the Bank Manager has been sending us letters and notices for repayment of loan. I also came across some sort of legal notice sent to us to begin repayment.

I had taken up a job in a private bank and worked there for 6 months. Unfortunately, I had to leave it mid-way due to my dad’s illness. This is the reason why I still haven’t been able to start repaying my loan. In May 2008, I completed one year of completion of the course, from which the repayment was scheduled to begin. Is the bank authorised to send us letters and notices like the ones mentioned above before it is actually time for the repayment to begin?