[Resolved]  Home Loan — DELAY IN LOAN DISBURSMENT

Date :- 18.02.2010


Dear Sir/Madam,

With reference to my housing loan application submitted on 18.01.2010 for Rs.8.21 Lakhs at SBI R.A.C.P.C. BKC, Mumbai, the case was opened starting with

1) Verification call on 20.01.2010.
2) Followed by personal verification at residence and office on 20th & 21st Jan ,2010 respectively.
3) I also received confirmation sms form SBI R.A.C.P.C. BKC, Mumbai 19.01.2010 from mobile no [protected].
4) I received a site verification call on 06.02.2010. The person who called me had visited the site and also confirmed necessary documents from the builder on site.
5) My wife had visited personally to SBI R.A.C.P.C. BKC, Mumbai on 11.02.2010 to enquire about the loan disbursement status.
6) She had talked to J.S. Athavale madam. Madam informed my wife that the loan is pending for search report from Advocate Aditi P More, Pune.
7) Athavale madam had called More madam in front of my wife for the search report on 11.02.2010 and More madam had informed Athavale madam that the report had already been dispatched on 10.02.2010.
8) Athavale madam told my wife (on 11.02.2010) after receiving the report and verification of the same the loan will be disbursed by next Friday. My wife also enquired how we will come to know about the status of loan. Athavale madam told that she will call me.
9) After waiting for 1 week since there was no call or message from SBI R.A.C.P.C. BKC, Mumbai my wife again visited on 18.02.2010 and met Athavale madam.
10) Athavale madam informed my wife that the file is still pending for search report.
11) My wife obtained phone no. of More madam and enquired about the search report. More madam told my wife that the report had already been dispatched on 10.02.2010 (one day before my wife personally visited SBI R.A.C.P.C. BKC, Mumbai and met Athavale madam) by Palande Courier having docket no.3582428.
12) One week time has been passed after 11.02.2010 (after receiving the search report by courier) Athavale madam had not taken any pain to find the search report.(am I responsible for all the documents?)
13) On checking the docket status I found that the courier had been delivered from Pune to Mumbai on 11.02.2010.I have attached the receipt of courier along with this mail.
14) Athavale madam first search for the report and was not able to trace it. After searching for a while in which she was unsuccessful.
15) Athavale madam then approached Sir D.K.Gupta (Chief Manager R.A.C.P.C, Mumbai) and told him that the search report was misplaced by her.
16) Gupta Sir then told the concern person to locate the search report but also was unsuccessful in doing so.
17) Gupta Sir them informed my wife that the we will locate the search report and inform me.

It has been almost one month since I have submitted all relevant documents required for the home loan. There had not been a single complaint regarding any shortfall of either general document or builder document which you may please take a note of it.
Also we have never pushed your department for any hurry. After seeing today’s response and the actions taken by R.A.C.P.C. Mumbai Department in mishandling of document and the carelessness shown by Athavale madam in unnecessary delaying the procedure for the loan.

I and my wife have taken the pains to write this letter because I have received the letter from builder in which he will charge me an interest @24% p.a. for the delay in his payment. Today builder informed me that about 95% of the work is completed.

If no further strict action is taken to disburse our loan I would be sorry to inform you that I would be applying to HDFC BANK for Home loan. I have seen HDFC BANK disbursing the loan within the one week time to my other society members without any hassle. And also I would ensure that no one from my know how will approach SBI for any type of Loan and Deposit.

Awaiting for your positive reply.

Amol Yeshwant Palshetkar