SBI. Arakkonam, Chennai shames its Education loan borrowers

The State Bank of India (SBI) in Tamil Nadu again is involved in naming and shaming of students who have taken education loans from the branch. But this time the Arakkonam branch of SBI has named and shamed the students who have taken education loans and the farmer borrowers. 

T. Velmurugan, President, Tamizhaga Vazhvurimai Katchi (TVK) said, “It is shocking to see the Arakkonam branch of SBI displaying the photos of students who have taken education loans and farmers who have taken farm loans outside the branch premises and also with a question ‘do you want to figure here’". He wondered, “Has SBI kept the photo of Vijay Mallya outside its premises as a defaulter". Velmurugan said the reason behind the education loan borrowers overdraft is they may not be employed to repay the loan.

When SBI’s Arakkonam branch was contacted a person who said he was the Branch Manager without disclosing his name said: “We can’t share the information with the media. We have to get the permission from the law officer.”“The bankers are insensitive and if any student takes some drastic action after being shamed, will SBI take responsibility?” Education Loan Task Force (ELTF) Convenor K. Srinivasan asked. In 2013, SBI Bodinayakanur branch in Theni district, around 515 km from Chennai, displayed photos of students and their parents for defaulting on their educational loans.

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