Recently banks has started asking for PAN card of parents of students applying for educational loan.
The PAN card will help in assessing family's income and track the student in case of default in repayment of loan.
The banks now have start educating their customers and students about the process and requirement of PAN card. PAN Cards can now be easily obtained within a week.
Students who are planning to approach banks for loan should apply for PAN just after their final exams.
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