Hello,
Please suggest on below points --
Summary
TL-1 : The term loan had been sanctioned with no borrower signature on the sanction letter. The term loan had been opened by the bank to primarily close down one of ad-hoc limit which still had adequate time-frame left. The amount was deceptively debited through 5 consecutive accounts to close down the other account. Also, 40% of amount remained withhold and not disbursed to the borrower but the instalments along with interest got paid off by the bank through security cheques kept with them on amount not disbursed
TL-2 : The term loan sanctioned for hotel project was not disbursed in full. On findings, the bank didnt comply with statuatory guidelines for having project report, feasibility report e.t.c fo having such kind of loan compliance. Moreover, there was inadequate funding due to which borrower had to suffer mental agony and future business oppurtinity losses.
Kindly suggest for the proper readdressal forums to address for deficiency in services as the bank, in picture, is state co-operative bank and wherein, the banking practices can be challenged
regards
