SinghSingh (Service) 07 April 2013

State bank of india loan

I booked on house and applied for a SBI Loan with all the documents way back in Jan 2013. All documents were scrutinized and sent to SBI's RACPC. There the scrutiny was done. THe file moved from RACPC to Branch and vice versa 2 times for want of some documents. With all the requirement complete, it was re-submitted back in March end. I received the sanction letter but now are saying that they require one more document...(I can say that this is not that important one)...

Is it correct that every other day they require more (and more) document?? Why cann't they ask for all documents in 1 or 2 steps.

The document being discussed: In the approved plan it is written Stilt, Raised FIRST, Raised Second but in the registration document, it is Ground, First, Second Floor. They insist on revising the registered document... How fair is their demand? (and I have their sanction letter in hand)

What to do now

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5 Replies

Advocate Sastry (Advocate) 07 April 2013

Speak to the Bank Manager...According to you the requested document is not required... They say they want. Ask the Bank for clarification regarding the importance of requested papers.

G.Venugopalan (Director) 08 April 2013

If you feel that the concerned officers are not fair in ther attitudes it is better to make a complaint on line at SBI site it self which can be moved up to the level of Chairman. But normally they will solve at a lower level it self.

Venugopalan.G

mencoswitchgear@bsnl.in

rajeev yadav (collections/legal) 10 April 2013

Dear sir, Sanction letter is subject to all documents and other relevant informations to be obtained. plz note that sanction letter is based on you cibil track and credit appraisals of the earnings versus liabilities and the paying capacity. You can sit and discuss with the branch manager across for speedy and quick resolution...failure to which you can move to grevience shell and later on to RBI ombudsmen shell for resolution of your queries...thanks.

SUJIT S BHALEKAR (Sr. MANAGER-LEGAL) 14 April 2013

Dear Mr. Singh,

As mentioned in your email, if there is difference between approved plan and the registred agmt, the banks are within the right to check the authenticiy and/or co-relation to the document submitted. Having said so, i feel that the bank should ask all this details at one stretch except any addl. documents if they observe disparity in the documents. In the bank, there is also concept prevailing called pre-sanction loan which is more based on loanee's financial strength and the base property docs. Nonethless, i feel bank is within its rights to check the docs to safeguard their loan amount at pre-disbursement levvel.

You should certainly meet the bank official for better clarify and to resolve issues.

Regards,

Sujit S. Bhalekar.

Sudhir Kumar, Advocate (Advocate) 07 April 2014

YOU HAVE NOT BEEN BALE TO CONVEY THE PROBLEM FULLY . ALLTHT CAN BE UNDERSTOOD THAT :

you are seeking loan from Govt bank
you are being harassed with repeated objections.
either objections are tenable or non-tenable. f tenable then should have been realise din one go or if not tenable then should not have been raised.

You may better speak to Chief Vigilance officer of State Bank of India

CVO: SH. P J JOY
Address:STATE BANK OF INDIA
      CORPORATE CENTRE
      STATE BANK BHAVAN, VIG. DEPTT. 8TH FLOOR
      MADAME CAMA ROAD, MUMBAI-400021

Phone:022-22831681,09004441094
Fax: 022-22838667
E-mail :- cvo@sbi.co.in