As per the Madras High Court Decision, Bank can not deny the Study loan if you have scored less than 60% in your Examination. There is no minimum mark requirement to avail a study loan for the Higher Education.
Education Loan is a financial help to the people who are not economically strong for the Higher Education. The whole intention is to provide financial assistance to the economical disadvantage people who are not able to participating the education.
Education loan Scheme was lunched under the social banking to participate in the education reform in the country.
Indian Overseas Bank denied to Sanctioned loan to A Ravi in June last year, admitted by management Quota and scored 59% mark. A Ravi moved to High court for justice. The decision of the court in for of A Ravi and bank was directed to extend the loan to A Ravi, as he is already admitted in management quota , Minimum percentage mark will not a constraint for granting the loan.