Refusal for loan?

Question

I spoke to the manager of your bank balangir branch.he refuse to give loan for msme under cgtsme act.even he didnt tell me the rate of interest and i told him that i have enough secured collaterals.poor manager and poor service.Now i lost hope from a bank forever.

Answer 1

Dear Deepak

At the outset, let me clarify that this site is designed and managed by a group of Senior Banking Professionals to assist Bank Customers at large to provide guidance for resolution of any complain/query/grievance in respect of financial services. This site does not belong to any Bank or a regulator, which may please be noted.

Banks have their own policies, guidelines and parameters regarding sanctioning of various loans.  Not to loose heart, you have plenty of banks to approach.  Since you have enough collateral to secure the loan, may try with other banks, if you have a substantiating proposal.

RAJA