Bank loans

First of all you should apply through on line system to any bank for MSME so that you may get the approval in principal or denial with reasons. Please note that Bank is committed to give you the reason in writing if rejection is to be done. Generally what we do, we donot insist for acknowledgement and banker does not show in the register maintained for receipt of application and disposal. Banks are supposed to disposs of the application Sanction/Rejection within in stipulated period under BCSBI is as under: "Dispose of your application for a credit limit or enhancement in existing credit limit up to 5 lakh within two weeks; and for credit limit above 5 lakh and up to 25 lakh within 4 weeks; and for credit limit above 25 lakh within 8 weeks from the date of receipt, provided your application is complete in all respects and is accompanied by documents as per ‘check list’ provided". These guidelines are issued by RBI also. You may visit rbi.org.in; bcsbi.org.in; https://msme.gov.in for more details. Bank officers are afraid of taking any letter in writing or give any answer in writing until unless they are confident. So if you are confident about your project's success, you will have to take every thing in writing and give every thing in wiring. Public Sector Banks are much better than Private sector regarding transparency, ROI and other service charges. more  

Our fellow citizens are doing all these. If we get an opportunity, we will also do the same things. more  

ALL THE BANKS DO NOT FOLLOW TAT. If they say YES or NO, we can make alternate arrangements. I HAVE THE SAME EXPERIENCE AND MY PROPOSAL GIVEN TO THE BANK IS 10 MONTHS OLD. more  

To put this in perspective, as of December 2018, over 11,000 companies had willfully defaulted on amounts worth over Rs 1.61 lakh crore, according to TransUnion Cibil data. PL. OBSERVE: Borrowers flagged as wilful default and reported by banks under CRILC reporting as on April 30 2019 Sr. No. Borrower name  Sum of funded advances outstanding and amount techincally/prudentially written off (in Rs. crores) 1 ABG Shipyard Limited 1875 2 Action Ispat and Power Private Limited 888 3 Coastal projects limited 984 4 Concast Steel and Power Limited 888 5 Deccan Chronicle Holdings Limited 1951 6 Diamond Power Infrastructure 869 7 First Leasing Co of India Limited 929 8 Forever Precious Jewellery and Diamonds Private Limited 1718 9 Gili India Limited 1447 10 Gitanjali Gems Limited 5044 11 Gupta Coal India Private Limited 1235 12 Hanung Toys and Textiles Limited 949 13 Indian Technomac Company Limited 1091 14 Jain Infraprojects Limited 1076 15 Kingfisher Airlines Limited 2488 16 KS Oils limited 1026 17 Kudos Chemie limited 2326 18 Nakoda limited 1028 19 Nakshatra Brands Limited 1148 20 Rei Agro limited 4197 21 Rotomac Global Private Limited 2844 22 Ruchi Soya Industries Limited 3225 23 S Kumars Nationwide limited 1581 24 Shree Ganesh Jewellery House Limited 1085 25 Siddhi Vinayak Logistic Limited 1349 26 Surya Pharmaceutical Limited 1065 27 Surya Vinayak Industries Limited 1628 28 VMC Systems limited 1314 29 Winsome Diamonds and Jewellery Limited 3386 30 Zoom Developers Private Limited 2024 TOTAL Rs Crors. 52658 Source:  Obtained from the RBI through an RTI application filed by The Wire • Note: The amounts listed are not the total amount of non-performing assets or total loans that these companies have defaulted on. more  

RBI slaps ₹1.75 crore penalty on Indian Bank The Reserve Bank of India has imposed a monetary penalty aggregating to ₹1.75 crore on Indian Bank for non-compliance with the directions issued by it on opening of Savings Bank accounts of a co-operative society, window dressing of the Balance Sheet as on March 31, 2018 and delayed reporting of frauds. SEBI bans Karvy Broking for nearly Rs 2,000 crore in defaults Karvy Stock Broking (KSBL) has been banned by SEBI for client defaults worth around Rs 2,000 crore making it one of the India’s largest cases of equity broker default. In an ex-parte interim order, SEBI banned Karvy from not only taking new clients but also from executing trades for current. A recent inspection by National Stock Exchange revealed that KSBL transferred a net amount Rs 1,096 crore to its group company Karvy Realty between April 2016 and October 2019. KSBL sold pledged client shares via off-market transfer as its own in five out of nine client accounts amounting to Rs. 228.07 crore in 2019 and transferred stocks worth Rs. 27.8 crore from 156 clients who have not executed a single trade with them. Rs 116-cr worth stock moved from clients a/c Stocks worth Rs 116.3 crore were transferred from 291 clients who have not traded with KSBL since June 2019. KSBL sold excess securities (not available in DP account) to the tune of Rs. 485 crore through nine related clients. Further, KSBL has also transferred excess securities to six out of these nine related clients to the tune of Rs. 162 crore till May 2019. Stocks worth Rs 257.08 crore, pledged on behalf of four clients were un-pledged between June and August 2019 and securities worth of Rs 217.85 crores were recovered by KSBL from four out of the said nine client accounts. KSBL has also purchased securities in five out of the respective nine client accounts amounting to Rs. 228.07 crore in 2019. AND RBI releases list of 30 major wilful defaulters, says report. Zoom Developers, Deccan Chronicle Holdings, Winsome Diamonds, REI Agro, Siddhi Vinayak Logistics and Kudos Chemie were among the other famous names included in the list, according to the report. ABOVE ARE FEW EXAMPLES PUBLISHED RECENTLY. Thousands of crors of rupees are lavishly used by these defaulters willfully, for decadeds together, none was exposed. RBI even protected them by NON Disclosing the name in Supreme Court. However people like you are starving and running from Piller to post to have Home loan for few lac rupees for several monehs, unsuccessfully. This is good example HOW the bank People along with fraudustars are working and HOW the Governing Authorities are functioning. In current sofar Rs. 1,00,000/- apart from Rs. 1,00,000/- are gone for NPA as well as frauds. This is the PUBLIC MONEY. THE RESULTS SPEEKS FOR ITSELF. more