Abhishek Anand raises a complaint against State Bank of India (SBI) over mishandled education loan repayments, alleging negligence that caused missed installments and serious damage to his credit score.
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Complaint Summary : SBI Education Loan Complaint – Abhishek Anand Alleges Negligence in Loan Repayment Handling
| Complainant | Abhishek Anand |
|---|---|
| Complaint Type | Mishandling of Education Loan Repayment |
| Company/Bank | State Bank of India (SBI) |
| Loan Taken | Education Loan (2022) |
| Key Issue | SBI failed to manage repayment installments as agreed |
| Impact | 3 missed installments, damaged credit score |
| Action Requested | Restoration of credit score, accountability from SBI, corrective action to prevent future issues |
Full Complaint Details
Abhishek Anand, a full stack developer and student, has publicly voiced his disappointment with State Bank of India (SBI) regarding the mishandling of his education loan repayment process.
Abhishek had taken an education loan in 2022, under which repayment responsibilities were to be managed by SBI while he pursued his studies. However, despite this arrangement, three loan installments were missed due to the bank’s negligence.
As a direct result, his credit score has been badly impacted even before he has begun his professional career.
This issue is deeply concerning as a student’s credit history is essential for their future financial independence, including:
- Applying for jobs that require credit verification
- Accessing future personal or home loans
- Building financial credibility early in their career
Abhishek describes the situation as “highly unfair”, holding SBI accountable for failing to fulfill their obligations under the education loan scheme.
Why This Matters
- Impact on Students’ Futures – A damaged credit score at the start of a career can block many financial opportunities.
- Bank Negligence – Students trust banks to manage repayments as agreed. Any lapses reflect systemic failure.
- Consumer Rights – Customers have the right to fair and transparent handling of financial products.
- Trust in Public Sector Banks – SBI, being India’s largest bank, has a responsibility to uphold consumer trust.
Legal and Consumer Remedies
Students facing similar issues can explore the following options:
- RBI Guidelines – RBI mandates banks to manage education loan repayment transparently and protect consumer interests.
- Credit Bureau Rectification – Request correction of the credit score with CIBIL, Experian, and Equifax by providing proof of bank negligence.
- Banking Ombudsman – File a complaint under the RBI Integrated Ombudsman Scheme, 2021.
- Consumer Forum – Escalate the case under the Consumer Protection Act, 2019, seeking compensation for financial and mental stress.
About SBI (State Bank of India)
SBI is India’s largest public sector bank and a leading provider of education loans. However, cases like Abhishek’s highlight gaps in loan repayment monitoring and customer grievance redressal that urgently need attention.
How Choice4Voice.com Helps
At Choice4Voice.com, we support students and young professionals like Abhishek Anand by:
✔ Publishing complaints for wider visibility
✔ Guiding consumers on legal escalation pathways
✔ Highlighting cases of financial negligence to push for accountability
👉 Submit your complaint here: https://choice4voice.com/submit-your-complaint/
Original LinkedIn Post
Read Abhishek Anand’s LinkedIn Post Here
Frequently Asked Questions (FAQs)
Q1. Who is the complainant?
Abhishek Anand, a student and aspiring professional, who took an education loan in 2022.
Q2. Which bank is involved in this complaint?
State Bank of India (SBI).
Q3. What is the main issue?
SBI failed to manage loan repayment installments, causing missed payments.
Q4. How many installments were missed?
Three installments.
Q5. What is the impact of these missed installments?
His credit score was damaged, which will affect future financial opportunities.
Q6. Why is credit score important for students?
It impacts eligibility for future loans, jobs, and financial services.
Q7. Who was responsible for repayments under the loan scheme?
SBI, as per the terms of the education loan agreement.
Q8. Can students rectify credit score issues?
Yes, by raising disputes with credit bureaus and proving bank error.
Q9. What are RBI’s rules for education loans?
RBI mandates transparent handling and timely updates of repayment status.
Q10. What remedies are available?
- Banking Ombudsman Complaint
- Consumer Court Case
- Direct representation to SBI grievance cell
Q11. Can compensation be claimed for mental stress?
Yes, under the Consumer Protection Act, 2019.
Q12. Is SBI liable for negligence in this case?
Yes, if repayment was their responsibility and they failed to execute it.
Q13. Can such cases be escalated legally?
Yes, students can approach RBI Ombudsman, NCH, or consumer forums.
Q14. Are education loan mismanagement cases common?
Yes, many students report repayment mishandling by banks.
Q15. What documents should be kept for escalation?
- Loan agreement copy
- Bank communications
- Credit bureau report showing missed payments
Q16. Can missed payments be reversed on record?
Yes, with proof and intervention from the bank and credit bureaus.
Q17. How long does credit rectification take?
Usually 30-45 days after raising disputes with credit bureaus.
Q18. Who regulates SBI’s loan services?
The Reserve Bank of India (RBI).
Q19. What lesson does this case highlight?
Students should regularly monitor loan repayments and demand written accountability from banks.
Q20. How can Choice4Voice.com support students?
By giving visibility to cases, guiding on escalation, and helping push for fair resolution.
