State Bank Of India — ABL Scheme

Address:

Hyderabad, Andhra Pradesh

i am existing customer of SBI . i obtain loan in the year 2006. since then i am doing business with you. in the year 2012 i got confirm order from APSRTC worth about 2cr.and order has to be executed in 24months according to work supply i was to supply material immediately and bank took 4and half months to sanction limit. and amount was sanctioned as adhoc limit for three months which opposed and bank collected processing fee on total amount. i was forced to accept this amount as i have to execute my order. Due to delay in sanction of loan and release of amount my order was made as stop supply. And due to this i incurred heavy financial loss in my business and it also effected my regular business. Since then with great difficulty i am managing my business and all interest and installments, As you have introduce new scheme of ABL, i approached my Banker to club my all loan account under this scheme and help me out. They agreed for this and obtained valuation of my property, and after 45 days of my proposal i was informed that they cannot sanction 39lacs as my realization value is about 55lacs and the market value is 65lacs but the correct market value is 85lacs they proposed to sanction 33lacs and another one lacs as bank charges, This delayed information has wasted my time second now my account is on edge of NPA on 24th march. mine is SSI unit and run by women i have not asked for waiver of interest or any other help and i am paying interest @15.5% . from last one year. kindly help me out. this is a true submision and on record. This second time delayed information may lead my unit becoming sick, kindly help me out