Subsidy Related Problem. And Repayment Related Problem?

Question

I am akritya kumar anand.My education loan account is XXXXX2299 from bank pandaul madhubani(Cbin0281398).
In my account subsidy not comming.I taken loan in jun 2010.My course duration was 4 years(2009-2013).I allready paid principle amount(240000).
Branch manager said subsidy aur not comming in your account.Other problem in account is pannel interest start on aug 2012.But they will be start on aug 2014.
So please resolve my problem
1>why sybsidy not comming my account.(Till date)
2>why my pannel interest start aug 2012.In low pannel interest start on aug 2014.
Thanks sir, 

Answer 1

Dear Akritya

At the outset, let me clarify that this site is designed and managed by a group of Senior Banking Professionals to assist Bank Customers at large to provide guidance for resolution of any complain/query/grievance in respect of financial services. This site does not belong to any Bank or a regulator, which may please be noted.

1. Subsidy, if eligible would have to be first released by the respective government to the bank, which in turn credits the same to your loan account.  You need to talk to the loan officer / branch manager to understand, whether they claimed the subsidy from Govt, whether received, if not received, why etc.

2. Penal interest would be charged by the bank, if there is any delay / default in prompt payment of your installments.  You need to check the details of payment schedule of the sanctioned loan and check whether installments were paid as stipulated or not.  If bank started levying penal interest since 2012, I assume that there might have been certain default from your side.  You should also be checking the details of actual disbursement of loan amount, the quantum of subsidy supposed to be received etc.

For both the issues, it is necessary that you should be meeting the relative loan officer or the branch head for clarifications and then pursue the case accordingly.

RAJA