Cancellation of loan amount on date of disbursement
7 months ago
As as my mom died in COVID in 2021, a month ago I applied for a loan from bank whatever documents asked by them were submitted it to them but after taking 22 days and at the date of disbursement they ask for succession certificate which almost take 1 year to make it, as they didn't ask earlier and on the disbursement date they cancel my loan just because I was not able to provide the succession certificate later the same guy called me and asked to apply in their other sector of the same bank where they give loan at high range of interest by saying that you will not get any problem there and your loan will be passed in a week after which the other guy took almost 9 days and 1 day before the date of dispersement he asked me to provide another documents which will take another 15 days to make and later they will think about it that will they pass my loan or not. So can I take action against them for taking my almost a month because of which I incurred a loss of one and a half lakh rupees.
You cannot take any legal action but you can lodge complaint with their higher authority like Zonal authorities.
if the bank has asked for a succession certificate, it may very well be necessity and a refusal of loan based on that reason is a valid ground.
However, the call you received at the later time is a cause for concern. it may be very well a possible case of fraud or of misleading you.
From the contents of your query, it appears that you are the victim of either for miscommunication or misunderstanding that led you to face harassment to avail of the loan from a Bank. So, in the given situation you need to submit a written complaint to the concerned bank explaining the harassment that you are facing to avail of a loan and if the said complaint does not resolve your problem, then make a complaint online under the RBI integrated Ombudsman scheme, 2021. on the official portal (https://cms.rbi.org.in) for a quick resolution in the matter. The complaint is to be made to the Ombudsman within one year or on lapse of 30 days from submission of a complaint to the concerned Bank either on receipt of an unsatisfactory reply or no reply from the Bank
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