If you are a party to an agreement, Then the other party is obliged to give you
a copy of the same. It is your right to have it

I sent the request on the companys letter head but they refused and i called up
at the banks free help number also but they also teld me that the bank dont have
the procedure for the same and they told me to contact at there ludhiana's
regional office i will call them up today and will let you know...

Regards,

Im reply to Gupta's query, I may refer to the RBI
guidelines dated May 05, 2003 entitled 'Guidelines on
Fair Practices Code for Lenders' which will provide an
answer to his query. Para 2(ii)(b) of the Guidelines
provide "c) Terms and conditions and other caveats
governing credit facilities given by banks/
financial institutions arrived at after negotiation by
lending institution and the borrower should be reduced
in writing and duly certified by the authorised
official. A copy of the loan agreement along with a
copy each of all enclosures quoted in the loan
agreement should be furnished to the borrower."

Para (iii) of the guidelines can also be quoted:
(iii) Disbursement of loans including changes in terms
and conditions: Lenders should ensure timely
disbursement of loans sanctioned in conformity with
the terms and conditions governing such sanction.
Lenders should give notice of any change in the
terms and conditions including interest rates, service
charges etc. Lenders should also ensure
that changes in interest rates and charges are
effected only prospectively.

I trust that Gupta will now quote this RBI circular to
the bank and obtain a copy of his loan agreement. RBI
has mandated that each bank should have these
guidelines approved by its Board of Directors and
circulated to branches as an internal circular.

Hi!

You can always sue the bank if they don't provide you the
information. You will need to write a letter to bank manager with the
required information. After that if you don't get the statement.
Write to the senior Manager, If you still don't get the statement.
Then will need to wait for some time (Check with some consumer court
lawyer). After than you can file a case against the bank.
NOTE : SEND ALL THE LETTERS THROUGH SPEED POST & HAVE THE COPY OF THE
SAME FOR THE PROOF TO SUBMIT IN THE COURT.

Hi this is Mahesh from Bangalore this mail is regarding the new vehicle loan till now i have enquired For 5 to 6 bank every one is demanding for surety, Security, Guarantee of minimum Five to six vehicle For Commercial vehicle(Car for taxi purpose) my question if a person has a minimum budget of 20% to buy a vehicle What should he do to bring 5 to six vehicle (to buy one car, or to avail loan from bank he has to purchase six vehicle in cash and then go for loan is this the rules given to bank from RBI at the time of issuing licence) this is very worst policy in India to have minimum of six vehicle. Kindly mail me back if any one can help me regarding this

mmtravels@in.com,mahesh@mmgroups.net

thanks