Bank & A Common Man

Thanks Mr Murthy for a very touchy story abou an educated physically challenged person when govt is encouraging for entrepreneuships.It is one in million cases in our country.It is a fact that even the high officials of banks are not well aware of banking rules and regulations.For a simple problem if one common man approaches a bank he will be advised to move from table to table,office to office for proper solution.In this way people loose their interest for buisness which may solve unemployment problems. 

At last a sense of good will prevailed!  We salute the perseverance of the boy to achieve something in life, in spite of oddity!  May Almighty give him sufficient strength now to put up with all the ordeals that he may have to face with the officials of the Khadi Board, the pressure from the Bankers to pay EMI on a regular basis, and the business that he is contemplating should happen as per his projections, and the statutory obligations that he has to fulfill! I know, with passion and perseverance, he would be able to overcome all the hurdles to succeed in his endeavour.  We wish him all success!  

Wow. Great.  Convey my congratulations and best regards to the boy.  

Congratulation and it is great news that loan is sanctioned. If you are genuine and your efforts will continue , you will always get positive result. and your friend was genuine and he is want to do from herat.

great feel. Happy feel. Sir, From my side say your friend congrates and good luck , best wishes.

HAVING SHARED MY AGONY WITH YOU SOME TIME AGO, LET ME SHARE SOME GOOD NEWS ALSO...

JUST NOW I WAS INFORMED THAT THE CHIEF MANAGER PERSONALLY TOOK THE APPLICATION TO ANOTHER BRANCH LOCATED 35 KM AWAY AND ENSURED THAT THE LOAN IS SANCTIONED. GREAT BANKER INDEED !!

THE BOY IS THE HAPPIEST !!!

AND STATE BANK OF INDIA, MY TRUST IN YOU IS HIGHER THAN EVER  !

THANKS FOR ALL THE READERS WHO SUPPORTED ME DURING THIS ORDEAL. THANKS ONCE AGAIN.

Having been a banker for a majority part of my career, i was actively involved in grievance redressal. Banks have now an Ombudsman's Office in all major centers. If any common erson was to face such a difficulty all he needs to do is write to the ombudsman's office alongwith all the necessary documentary proof. this office is very strict on the banks & is a customer-foccused office. This office only closes a complaint whn the customer gives a written acknowledgement tht the mtter is resolved. Am attaching the rbi link for reference.

Refer RBI publication : http://www.rbi.org.in/Scripts/PublicationsView.aspx?id=10227

Sujit

The less said about our bankers, the better. The chief manager of the bank referred to is either supremely inept and incompetent or in one word - corrupt! All that running around...? I suppose the chief manager was trying to obtain UTT (under the table). If that is not the case... what idiot promoted the numskull to the position he enjoys...? Maybe he too surrendered something UTT.

Ask your friend's friend to seek the loan under the CGTMSE scheme. It happens rather quick. Needs zero collateral upto Rs.1.0 cr. Have him visit www.cgtmse.com. SIDBI would also fund him, I believe. The website mentions the names of all the banks that disburse it. However, most bankers are unaware of what schemes their banks support.

And yes there might be several private investors who could finance him. Visit www.mumbaiangels.com (exchange mubai for chennai, delhi, kolkata etc in the web address). There are also several incubators down south, however largely located in top metros. Ditto for IIMs and IITs. Check them out. Will try and find some more and post.

it is very interesting that even though this gentleman has offered collateral,he is qualified but not able to get. there are special concessions for diabled persons. it is surprising that chief manager of a bank is not sure of jurisdiction before elapsing time.

there is not only one bank, there are many banks, some banks have loan against property schemes where not many questions are asked. moreover, when khadi board has given subsidy, it prima facie establishes that his project is viable and comes in the positive lists and not in negative list for financing by banks . he can approach state finance corporation also but they can sanction only when it is within their purview of industries to be financed.

now a days even private financiers are also showing interest to finance when there is collateral and finaises very sharply. can i know the nature of product/type of project.

msubbarao