P.K.LOHRA,J. - (1.) Petitioner, a practising lawyer has laid this writ petition to assail the impugned circular dated 11.04.2014 (Annex. 10), communication dated 07.10.2014 (Annex. 13) and notice dated 10.02.2015 (Annex. 14) and prayed for annulment of impugned circular, communication as well as notice. A further direction is sought by the petitioner to allow him benefit of interest subsidy for the period of moratorium in adherence of the central scheme to provide interest subsidy for the period of moratorium on educational loans availed by the students belonging to weaker sections of society with other ancillary reliefs.
(2.) Succinctly stated the facts of case are that petitioner for advancement of his academic career to pursue B.A., L.L.B. Course applied for education loan to the respondent-State Bank of Bikaner and Jaipur, RASMECCC, Jodhpur (for short the 'Bank'). The respondent-Bank after processing the application of the petitioner sanctioned him education loan to the tune of Rs. 3,97,500/- vide letter dated 25.07.2007. The loan was sanctioned for a period of five years i.e. from 2007 to 2012. In terms of sanction letter, the petitioner was required to repay the said loan in equal monthly instalments in 60 months after the date of commencement of repayment. The repayment was to commence one year after the course period of 16 months to be reckoned from 01.08.2007. As such, the petitioner was allowed moratorium period from July 2007 to January 2013 and during the interregnum period, he was not required to pay any sum against the principal loan amount. After completion of moratorium period, the petitioner started paying monthly instalments and by 09.03.2015, a total sum of Rs. 2,59,200/- was paid by him in 18 instalments. In order to show the requisite figures, statement of accounts for the period 11.08.2007 to 09.03.2015 is also placed on record.
(3.) It is averred by the petitioner in the writ petition that the Union Finance Minister while presenting budget for the year 2014-2015 in his budget speech proposed for providing the subsidy on interest amount of moratorium period for all education loans taken up to 31.03.2009 as outstanding on 31.12.2013. Pursuant to the budget speech of the Union Finance Minister, as per the petitioner, Department of Higher Education, Ministry of Human Resources Development, Government of India issued explanation regarding the proposed central scheme to provide interest subsidy for the period of moratorium on education loans availed by the students belonging to economically weaker sections from the Scheduled Bank advanced under the Education Loan Scheme of Indian Banks' Association to pursue technical/professional education studies in India. In the scheme, it was, inter alia, provided that interest on the education loan during the moratorium period shall be borne by the Government. According to the petitioner, in adherence of the explanation of Ministry of Human Resources Development, Government of India, the respondent-bank issued a circular dated 04.03.2014 stating therein that Central Government has taken liability to i make payment of the interest on education loan up to 31.12.2013 which were sanctioned/availed up to 31.03.2009 and are outstanding on 31.12.2013. Subsequent to that, the third respondent sent a communication to the petitioner that benefit of scheme shall be provided to the loanees who have obtained education loan during 21.05.2001 to 31.03.2009 provided their annual family income is not more than Rs. 4.50 lacs and the petitioner was asked to furnish certificate to that effect. In adherence of the same, the petitioner submitted requisite certificate with the benign hope of getting interest subsidy during the moratorium period.;