Revenue recovery notice as non repayment of educational loan

Sir, I took an education loan of RS 400000 in 2010 for my studies, Till now I am not able to repay because of getting a job, Now bank authority send for revenue recovery what's the solution for this..?

Answers (1)

83 votes

Education loan usually has a lock-in period. After that, you are liable to make repayment. You can either approach the honourable high court and seek for instalments to repay the entire amount or can prefer an appeal against the revenue recovery proceedings if you have any substantial case in your favour.

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