Legal action can govt. banks take on default student loan

Jiten Rahul (Designer) (25 Points)

19 March 2014  

hi


I had borrowed education loan of Rs 4 Lac in 2007 for pursuing MCA from a Govt.  Bank .I  belong to a poor family and  the bank issued loan for me without any security on behalf of my merit and my father's pension.I completed MCA without any campus recruitment and struggled a lot for a job .Recently my father expired due to high BP.I am the only future of our family and I am doing a job of salary 8 thousands Only.The bank is calling to my family and threatening them .I am  ready to repay the loan ,once I will get  good salary.
The interest and principal combined amount  is Rs 6 Lac  now.It will take too time to repay.

    *Can the bank issue any legal action against me or my family?
    *Can it send me to jail ?

 Please help me.