The Communist Party of India (Marxist) staged a sit-in in front of the State Bank of India’s branch at Gudimangalam on Monday in protest against the alleged delay in disbursing education loan to A. Ramesh, a student at a private engineering college.
The applicant told The Hindu that he approached the SBI’s Udumalpet branch during the first year for the loan but was not given.
This year, he approached the SBI’s Gudimangalam branch that was opened in the second half of 2012 to get the loan sanctioned.
“The applicant is hailing from a poor family with his father being a casual labourer. Only if he gets a loan, the studies can be pursued,” said V. Ranganathan, CPI (M) Gudimanagam union secretary.
The protesters moved away after the bank obtained the loan application from the student.
SBI regional manager N. Balakrishnan told The Hindu that Ramesh’s loan application filed in 2012 was pending disposal because he did not produce some stipulated supplementary documents required for getting an education loan.
“The branch has now forwarded the application obtained on the day to the regional office for necessary procedures,” he said.