If you want to start repayment installments after one year then the given date. You can approach directly to that bank from which you had taken the loan. They will ask you what is the reason for late payment. If you give satisfied them they can oblige you. But they we apply extra charges for the period of one year. That will be very costly for you. Whether banker will not agree to extend the repayment schedule as they all are bonded with the rules and regulations as given by RBI or top authorities. I suggest you to start and part time job along with you study and avoid the postpone the payment schedule. This will be in you favour and you will save the heavy penalty or interest on your loan.
The banking structure in India are really strict and fixed. Extending the repayment period will be very difficult. As far as I know there is no facilities for extending the loan repayment.If you don't repay in after one year your amount starts incrementing which will become a burden for you to repay in future. So better find some source to repay the loan as soon as possible.
The Good News for you is that The recent educational loan provisions have been changed that exactly suit your need and hence you have no need to approach the bank and plead. Following the so called economic crisis, that resulted in Huge lay offs and downfall of job market with drastic reduction of jobs especially in Information technology which is a major hope of employment, IBA (Indian Banks Association- The body that frames and lays down the procedures and regulations for the banks and approves them) ordered all the banks in public sector..
1. To increase the moratorium or Holiday period after the education from 1 year to 2 years.
2. It also asked the banks to reasonably lower the Amount payable towards the loan in the form of EMI after securing a job..
Unless the bank officials try making use of your ignorance or misleading you, you have every right to strictly adopt the latest procedures as laid down by IBA from time to time, to your education loan and inform the bank officials accordingly. you can inform them the things and may seek a permission and also can request a reschedulement of your loan.
Please see the attached file for more details and to get clarity over the Changed rules.
My suggestion is that Bank people always try to make use of customers' innocence and ignorance and hence don't fall prey to them and make yourself clear of procedures and aware of latest changes in different loan schemes.