High Court gives big relief to those with poor CIBIL score, reprimands banks
Education is everyone's right, but many times there is a lack of money for good education. Due to money, the youth is deprived of good education. From time to time, policies are made by the government to promote education.
Often when we apply for a loan from the bank, the bank checks our CIBIL score. The bank gives loan on the basis of this. If the CIBIL score is poor (low CIBIL Score) then the bank rejects the application. But now such a decision has come from the High Court which will benefit thousands of applicants. The decision has been given by the Kerala High Court.
Education is everyone’s right, but many times there is a lack of money for good education. Due to money, the youth is deprived of good education. From time to time, policies are made by the government to promote education. At the same time, banks also help the youth for studies by giving loans (Education Loan). Regarding this, the question of CIBIL score comes in front of the youth. The High Court has given a big update on this.
The decision is big in the matter of CIBIL score on loan
The Kerala High Court has given an important decision regarding education loan. The High Court, while hearing a petition, said that the application for education loan cannot be rejected on the basis of low CIBIL score.
Banks were reprimanded
The Kerala High Court has reprimanded the banks for not giving education loan on the basis of low CIBIL score. While hearing the petition, the High Court said that education loan of any child cannot be rejected on this basis. Justice PV Kunhikrishnan has asked the banks to adopt a human approach while considering the applications for education loan.
Hearing on the PIL of the student
The Kerala High Court heard the PIL of a student. The court said that students are the nation builders of tomorrow. They have to lead the country in future. Education loan should not be rejected only on the basis of low CIBIL score.
The court’s decision came in this case
The student who filed the PIL had taken two loans. In one of these loans, Rs. 16667 was left. The second loan was put in overdue (EMI overdue) by the banks. Due to this, the CIBIL score of the person who filed the PIL was low. The petitioner had appealed in the High Court that if he did not get the money immediately, he would be in trouble. On this, the High Court has given a big decision in the interest of the students.
