Axis Bank
Blank Cheque request to complete the Loan Disbursal Procedure

This is in relation to one of the Axis Bank Power Home Loans that I have applied for a Site that I have picked up from the Builders (Galaxy Projects - Rajalakshmi Builders), Bangalore, Karnataka

Axis Bank is affiliated to provide loans for this property, all seemed well until the process of the loan (with as usual issues with documents requirement that the bank comes up every day) was carried out by the Bank. But once the loan was sanctioned and the processing fee debited out of my account (Cheque provided at the initial logging of the loan documents), the bank now is wanting 5 blank cheques to disburse the DD amount to the builders, Galaxy - Rajalakshmi builders are supporting the bank as well. The interesting part is not the Bank asking for blank cheques for security but they are denying to provide any written request to obtain so as well as not agreeing to provide an acknowledgment for the blank cheques. Something is really fishy here as usually the banks across promote not to provide any blank cheques to anyone in any form whatsoever. If I inisist to get a written request or acknowledgement the bank is threating that the loan will be rejected. Please help here as this is a malpractice as well as illegal requirement that the bank is trying to posses.

Regards,

Aravind

Contact: 9845599111

email: aravi_24@yahoo.co.in

Company: Axis Bank
Country: India
State: Karnataka

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