Hi,

My name is Rahul hooda i had taken a dic loan under prime minister scheme in gurgaon dic firstly my loan was santioned after 1 year of my loan application and it was through Oriental bank of commerce and then they said
we will pay you the money in 3 parts first you buy the furniture ,submit the bill then you will get that money then buy all computers for the cyber cafe set which costed me around 2lakhs and then they sanctioned my loan for just 1.80lakh and did not tell about the subsidy money and when in the 3rd month i went to the bank they said we have to get a subsidy letter sanctioned from the dic office in gurgaon otherwise no subsidy would be given and we did not get any proof of the loan sanctioned.
The loan manager said he will deduct the 1installment of interest at the end of 5th month and then onwards he will deduct all the installments on time for Rs.3948. And said this is a secured and insured loan so we didn't get the insurance done seprately for the 10 computers in the cyber cafe.And on tuesday the 20th day of july'2010 due to heavy rain the cyber cafe was flooded and nothing could be saved. Every bit of this business was shattered and municipal corporation says we will try and pay only 10% of the losses and bank refused to pay the losses or to waive of the loan amount. Bank manager refused to listen and said bank will not pay as loan is not insured.
Please help me i am in deep trouble .

Thanks,
Regards,
Rahul Hooda
Ph.# 9711109926
Prop.: Legend cyber cafe