& On Sat, 9/1/10, rajneesh madhok wrote:
From: rajneesh madhok
Subject: Fw: Goondaism by Bank of Maharashtra, Phagwara Branch manager, Harassment, Cancelled papers of Secured Loan
To: [email protected]
Date: Saturday, 9 January, 9:33 AM
To Jan 09
Mr. S.P. Nath,
Dy. General Manager, Retail Lending & SME
Lokmangal, Shivajinagar, Central Office,
Pune-411005
020-22512559, 25532731/35 Ext: 219
& On Sat, 9/1/10, rajneesh madhok wrote:
From: rajneesh madhok
Subject: Fw: Goondaism by Bank of Maharashtra, Phagwara Branch manager, Harassment, Cancelled papers of Secured Loan
To: "Bimal Khemani"
Date: Saturday, 9 January, 9:20 AM
& On Sat, 9/1/10, rajneesh madhok wrote:
From: rajneesh madhok
Subject: Goondaism by Bank of Maharashtra, Phagwara Branch manager, Harassment, Cancelled papers of Secured Loan
To: [email protected], [email protected]
Date: Saturday, 9 January, 9:17 AM
To SPEED POST JAN 09
The Regional Manager,
Bank of Maharashtra,
SCO 88-89, Sector 17-C,
Chandigarh-160017
GOONDAISM BY BANK OF MAHARASHTRA, PHAGWARA BRANCH MANAGER, NOT PROVIDING LOAN, CANCELLED ALL PAPERS SUBMITTED, HARASSED FOR EIGHT HOURS CONTINUOUSLY
LOAN SCHEME AGAINST 100% SECRUED LOAN
NOVEL METHOD TO EXTORT WITH HARASSMENT FROM CUSTOMERS; BANK OFFICIALS FORCE THE CUSTOMER TO TAKE LOAN AND PAY INTERST FOR NON AVAILING AMOUNT. REASON THE BRANCH MANAGER TARGET NOT COMPLETED
PAY INTERST FOR NOT AVAILING LOAN AMOUNT. EITHER FOLLOW FORCED INTERST PAYMENT RULES OR GO AWAY
YOU AVAILED 5% LOAN AMOUNT PAY INTERST OF 100% SANCTIONED LIMIT OR GET OUT.
BRANCH MANAGER CANCELLED THE PAPERS FOR THE LOAN DOCUMENTS FOR THE REASONS BEST KNOWN TO HIM
FIXED DEPOSIT RECEIPTS SUBMITTED:
S.No. Receeipt No. Date Amount Present Value Favouring
1. 0834546 28/10 32, 800/- 42, 190=00 Rajneesh Madhok
2. 0834415 31/08 1, 800/- 2, 328=00 Rajneesh Madhok
3. 0834418 02/09 3, 000/- 3, 880=00 Rajneesh Madhok
Total present value 48, 398=00
4. 0834388 09/08 34, 480/- 45.120=00 Alpana Madhok
& Rajneesh Madhok
Total Value: 93, 518=00
Loan sanctiond limit not considering wife’s balance: Rs. 43, 558=00
Loan sanctioned limit considering wife’s balance: Rs. 40608=00
My sanctioned limit should be = 84166=00
In first 1 to 3 FDRS are jointly with my Senior Citizen uncle Mr. Surinder Mohan Madhok and No. 4 with my wife Alpana Madhok and have given undertaking that we are responsible for any loss of funds.
In the above FDRs Rajneesh Madhok is the first party and Rajneesh Madhok is also the Proprietor of Madhok Hardware & Paint Store, so obviously this is first party loan which should be sanctioned but it is highhandedness of Bank Of Maharashtra that they don’t comply with RBI guidelines.
I approached Bank Of Maharashtra, Phagwara branch to provide me Overdraft limit against the Fixed Deposit Receipts. The tale is as under:
1. I reached the branch at 10:15 AM and requested Mr. Mahajan the Assistant Manager to open my Overdraft account against 100% Secured deposit as Bank’s FDRs have been submitted as security.
2. Mr. Mahajan directed me to contact to the Branch Manager for the needful. From that time the process of harassment started.
3. The Branch Manager collected the FDR receipts and asked me the purpose. I said Sir, I have to operate the account in my firm’s name M/s Madhok Hardware & Paint Store, Railway Road, Phagwara. As from the last so many years I am operating the account as Overdraft in the banks. A few days back I closed my Overdraft account from Vijaya Bank after maintaining it for five years because the Fixed deposits have been matured and I had not having the security of FDRs to be pledged.
4. On submitting the documents I asked the Branch Manger that How much interest will be charged on my Overdraft account. He told that it will be 1.3% over and above the interest you earn from deposit. I confirmed the deal and he received the documents.
5. Then branch Manger asked me you will have to call the second party in the FDRs to the branch. Then he said you will have to provide introduction to the bank. I said Sir, I am the customer of the bank from the last 10 years and it is in your record. Secondly on the documents (FDRs) on which I am getting Overdraft limit are issued in the year 2006 means the deposit has been with the bank and the introduction had also been submitted at that time. Thirdly I am still maintaining the Demand loan account and the balance in my Loan account 60011725315 at present is Rs 4111/- Plus up to date interest is Rs 28/- Total debit balance is Rs 4139/-. But he not agreed.
6. Then I said Sir, my friend Mr. Naval Gupta had been maintaining the current account as Kesri Sales & Engg. Corporation as Account No. 4, in addition to my security he will give introduction to his Saving Account and FDRs. The Bank Manager denied to approve.
7. Then I asked that the account of Sharma Box factory is in operative, he said No, then I asked the account of Munshi Ram Kora Mal is in operative he said No. Then I said the account of Vinod & Co is in operative he said No. Then I made a call to my friend Mr. Surinder Kumar of Britex Trade Links Old Current Account No. 336 and confirmed about his account, he said yes I have account with the bank. Then I called him in the bank and he made introduction on the documents.
8. Then Branch Manager directed me to bring the Second parties of FDRs. I took my Senior Citizen uncle (65 Years) to the bank branch and he got all the bundle of papers signed including two Stamp papers of Rs 50 denomination (Unfilled documents), and when I insisted that the documents kindly be filled up and the photocopies of the documents on which you have taken our signatures should be handed over to us. Then he directed me to bring my wife Alpana Madhok to the branch. On my request he handed over the papers to be signed.
9. On submission of papers I requested the Branch Manger to fill up the documents firstly then provide me the photocopies of the documents signed. On this he became furious.
10. Then he called Mr. Mahajan Assistant Branch manager to his office and directed him to fill the documents. Then the drama to go to this way to that way started. I kept on roaming from Branch manger cabin to the officials counter.
11. On my request that the documents should be filled firstly Mr. Mahajan said that we shall open the account first then only the documents will be filled. Then account SIF (Something like that they spoke) account opened No. 20085604972. The degit X marked might be any other digit like 5 or 3 in 200856x4972 account.
12. Mr. Mahajan filled the documents. When I said how much rate of interest I shall have to pay. He said I don’t know. The branch manager will tell. I said to Branch manger kindly fill in the documents the rate of interest to be charged. He said I don’t know. It is the computer that charges the rate of interest. I said you are the manager I you have to fill the rate of interest before updating in the system. Then Branch Manager called the peon to bring the circular file. Then he keep on searching the contents about the rate of interest which he could not find. At one point he said this is the rate of interest then at that page Mr. Mahajan said that this is the old circular. After all no decision had been made.
13. Then Branch manger whispered something which I could not understand and Mr. Mahajan said come on your account can be opened. When I was told that my account will be opened as. A current account will be opened and the proceeds of limit will be transferred to the current account that Rs 42, 900/- and I can operate that account as current account.
14. What a great Bank of Maharashtra and its dodging policies, means your FD accounts balance transferred to your current account in full amount and the interst on Rs 42, 900/- started from day one. The bank has nothing to do with it that how much limit you have availed. Means the broad day light robbery. When I objected to this deal. Mr. Mahajan said it will be done like it, then he said that you go to Branch Manager for confirmation. On my visit Branch manger said cancel all documents and we are not to open the account. I said O.K. Kindly provide me the documents duly signed by me. The banch manager not provided me the documents. Then he said we shall provide you the photocopies of the documents. The original documents were given to the peon for get those photocopied but he did not come back after getting those photocopied. I kept on waiting for Photocopies till 5 P.M. but those copies not provided to me. The current account documents which I requested to provide me had been taken by Mr. Mahajan to get those photo copied but he did not turn back till 5 P.M.
15. Though today was Saturday but the branch had been opened and I kept on waiting till 5 P.M.
16. To get the account opened there is another type of expectation from the staff, that is why they people are harassing the customer.
Yours truly,
Rajneesh Madhok,
B-xxx/63, Nehru Nagar,
St. No. 2, Railway Road,
Phagwara-144401 (Pb)
Ph: 01824-262569 (O), 268210 (R), 094173-06415
Tele-fax: 01824-262569, E-mail: [email protected]
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The INTERNET now has a personality. YOURS! See your Yahoo! Homepage.
The INTERNET now has a personality. YOURS! See your Yahoo! Homepage.
& On Sat, 9/1/10, rajneesh madhok wrote:
From: rajneesh madhok
Subject: Fw: Goondaism by Bank of Maharashtra, Phagwara Branch manager, Harassment, Cancelled papers of Secured Loan
To: [email protected]
Date: Saturday, 9 January, 9:33 AM
To Jan 09
Mr. S.P. Nath,
Dy. General Manager, Retail Lending & SME
Lokmangal, Shivajinagar, Central Office,
Pune-411005
020-22512559, 25532731/35 Ext: 219
& On Sat, 9/1/10, rajneesh madhok wrote:
From: rajneesh madhok
Subject: Fw: Goondaism by Bank of Maharashtra, Phagwara Branch manager, Harassment, Cancelled papers of Secured Loan
To: "Bimal Khemani"
Date: Saturday, 9 January, 9:20 AM
& On Sat, 9/1/10, rajneesh madhok wrote:
From: rajneesh madhok
Subject: Goondaism by Bank of Maharashtra, Phagwara Branch manager, Harassment, Cancelled papers of Secured Loan
To: [email protected], [email protected]
Date: Saturday, 9 January, 9:17 AM
To SPEED POST JAN 09
The Regional Manager,
Bank of Maharashtra,
SCO 88-89, Sector 17-C,
Chandigarh-160017
GOONDAISM BY BANK OF MAHARASHTRA, PHAGWARA BRANCH MANAGER, NOT PROVIDING LOAN, CANCELLED ALL PAPERS SUBMITTED, HARASSED FOR EIGHT HOURS CONTINUOUSLY
LOAN SCHEME AGAINST 100% SECRUED LOAN
NOVEL METHOD TO EXTORT WITH HARASSMENT FROM CUSTOMERS; BANK OFFICIALS FORCE THE CUSTOMER TO TAKE LOAN AND PAY INTERST FOR NON AVAILING AMOUNT. REASON THE BRANCH MANAGER TARGET NOT COMPLETED
PAY INTERST FOR NOT AVAILING LOAN AMOUNT. EITHER FOLLOW FORCED INTERST PAYMENT RULES OR GO AWAY
YOU AVAILED 5% LOAN AMOUNT PAY INTERST OF 100% SANCTIONED LIMIT OR GET OUT.
BRANCH MANAGER CANCELLED THE PAPERS FOR THE LOAN DOCUMENTS FOR THE REASONS BEST KNOWN TO HIM
FIXED DEPOSIT RECEIPTS SUBMITTED:
S.No. Receeipt No. Date Amount Present Value Favouring
1. 0834546 28/10 32, 800/- 42, 190=00 Rajneesh Madhok
2. 0834415 31/08 1, 800/- 2, 328=00 Rajneesh Madhok
3. 0834418 02/09 3, 000/- 3, 880=00 Rajneesh Madhok
Total present value 48, 398=00
4. 0834388 09/08 34, 480/- 45.120=00 Alpana Madhok
& Rajneesh Madhok
Total Value: 93, 518=00
Loan sanctiond limit not considering wife’s balance: Rs. 43, 558=00
Loan sanctioned limit considering wife’s balance: Rs. 40608=00
My sanctioned limit should be = 84166=00
In first 1 to 3 FDRS are jointly with my Senior Citizen uncle Mr. Surinder Mohan Madhok and No. 4 with my wife Alpana Madhok and have given undertaking that we are responsible for any loss of funds.
In the above FDRs Rajneesh Madhok is the first party and Rajneesh Madhok is also the Proprietor of Madhok Hardware & Paint Store, so obviously this is first party loan which should be sanctioned but it is highhandedness of Bank Of Maharashtra that they don’t comply with RBI guidelines.
I approached Bank Of Maharashtra, Phagwara branch to provide me Overdraft limit against the Fixed Deposit Receipts. The tale is as under:
1. I reached the branch at 10:15 AM and requested Mr. Mahajan the Assistant Manager to open my Overdraft account against 100% Secured deposit as Bank’s FDRs have been submitted as security.
2. Mr. Mahajan directed me to contact to the Branch Manager for the needful. From that time the process of harassment started.
3. The Branch Manager collected the FDR receipts and asked me the purpose. I said Sir, I have to operate the account in my firm’s name M/s Madhok Hardware & Paint Store, Railway Road, Phagwara. As from the last so many years I am operating the account as Overdraft in the banks. A few days back I closed my Overdraft account from Vijaya Bank after maintaining it for five years because the Fixed deposits have been matured and I had not having the security of FDRs to be pledged.
4. On submitting the documents I asked the Branch Manger that How much interest will be charged on my Overdraft account. He told that it will be 1.3% over and above the interest you earn from deposit. I confirmed the deal and he received the documents.
5. Then branch Manger asked me you will have to call the second party in the FDRs to the branch. Then he said you will have to provide introduction to the bank. I said Sir, I am the customer of the bank from the last 10 years and it is in your record. Secondly on the documents (FDRs) on which I am getting Overdraft limit are issued in the year 2006 means the deposit has been with the bank and the introduction had also been submitted at that time. Thirdly I am still maintaining the Demand loan account and the balance in my Loan account 60011725315 at present is Rs 4111/- Plus up to date interest is Rs 28/- Total debit balance is Rs 4139/-. But he not agreed.
6. Then I said Sir, my friend Mr. Naval Gupta had been maintaining the current account as Kesri Sales & Engg. Corporation as Account No. 4, in addition to my security he will give introduction to his Saving Account and FDRs. The Bank Manager denied to approve.
7. Then I asked that the account of Sharma Box factory is in operative, he said No, then I asked the account of Munshi Ram Kora Mal is in operative he said No. Then I said the account of Vinod & Co is in operative he said No. Then I made a call to my friend Mr. Surinder Kumar of Britex Trade Links Old Current Account No. 336 and confirmed about his account, he said yes I have account with the bank. Then I called him in the bank and he made introduction on the documents.
8. Then Branch Manager directed me to bring the Second parties of FDRs. I took my Senior Citizen uncle (65 Years) to the bank branch and he got all the bundle of papers signed including two Stamp papers of Rs 50 denomination (Unfilled documents), and when I insisted that the documents kindly be filled up and the photocopies of the documents on which you have taken our signatures should be handed over to us. Then he directed me to bring my wife Alpana Madhok to the branch. On my request he handed over the papers to be signed.
9. On submission of papers I requested the Branch Manger to fill up the documents firstly then provide me the photocopies of the documents signed. On this he became furious.
10. Then he called Mr. Mahajan Assistant Branch manager to his office and directed him to fill the documents. Then the drama to go to this way to that way started. I kept on roaming from Branch manger cabin to the officials counter.
11. On my request that the documents should be filled firstly Mr. Mahajan said that we shall open the account first then only the documents will be filled. Then account SIF (Something like that they spoke) account opened No. 20085604972. The degit X marked might be any other digit like 5 or 3 in 200856x4972 account.
12. Mr. Mahajan filled the documents. When I said how much rate of interest I shall have to pay. He said I don’t know. The branch manager will tell. I said to Branch manger kindly fill in the documents the rate of interest to be charged. He said I don’t know. It is the computer that charges the rate of interest. I said you are the manager I you have to fill the rate of interest before updating in the system. Then Branch Manager called the peon to bring the circular file. Then he keep on searching the contents about the rate of interest which he could not find. At one point he said this is the rate of interest then at that page Mr. Mahajan said that this is the old circular. After all no decision had been made.
13. Then Branch manger whispered something which I could not understand and Mr. Mahajan said come on your account can be opened. When I was told that my account will be opened as. A current account will be opened and the proceeds of limit will be transferred to the current account that Rs 42, 900/- and I can operate that account as current account.
14. What a great Bank of Maharashtra and its dodging policies, means your FD accounts balance transferred to your current account in full amount and the interst on Rs 42, 900/- started from day one. The bank has nothing to do with it that how much limit you have availed. Means the broad day light robbery. When I objected to this deal. Mr. Mahajan said it will be done like it, then he said that you go to Branch Manager for confirmation. On my visit Branch manger said cancel all documents and we are not to open the account. I said O.K. Kindly provide me the documents duly signed by me. The banch manager not provided me the documents. Then he said we shall provide you the photocopies of the documents. The original documents were given to the peon for get those photocopied but he did not come back after getting those photocopied. I kept on waiting for Photocopies till 5 P.M. but those copies not provided to me. The current account documents which I requested to provide me had been taken by Mr. Mahajan to get those photo copied but he did not turn back till 5 P.M.
15. Though today was Saturday but the branch had been opened and I kept on waiting till 5 P.M.
16. To get the account opened there is another type of expectation from the staff, that is why they people are harassing the customer.
Yours truly,
Rajneesh Madhok,
B-xxx/63, Nehru Nagar,
St. No. 2, Railway Road,
Phagwara-144401 (Pb)
Ph: 01824-262569 (O), 268210 (R), 094173-06415
Tele-fax: 01824-262569, E-mail: [email protected]
The INTERNET now has a personality. YOURS! See your Yahoo! Homepage.
The INTERNET now has a personality. YOURS! See your Yahoo! Homepage.
The INTERNET now has a personality. YOURS! See your Yahoo! Homepage.
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