Respected Sir/Madam,

PFB the LETTER & EMAIL i have sent to Punjab National bank prior writing to you.

The Bank employee's have demonstrated an Unprofessional, incompetent, negligent and casual attitude towards work.
My problem in brief is as follows:
I had applied for a Loan of Rs. 800,000 in August 2010 with an assurance that the loan will be processed and amount disbursed in approximately 10-12 business days. After a number of follow up, failed appointments and repeat submission of various documents my loan is not yet processed and this is the month of December.

The reason i had to write to Consumer Complaint is because i had previously complaint about the employee to the Senior Vice President and also, submitted a written complaint, however it was not much helpful. When i complained about the bank employee (Mr. Mishra) to Senior VP. I was asked to not issue a written complaint as it may impact his reputation. However, during our long conversation of approximately 2 hours 30 min. Spilled the beans by saying that the loan was not processed quickly because the Agent (Mr. Mishra) was not given his commission of 1%. I informed Mr. Sr. VP that this process was not right and is something i do not accept to hear from HIM. Also, if this was true it should have been informed to us earlier, but this was done after 3 months of applying for the loan.
I was than informed my case will be handled by the either the Senior Vice President (Mr. Hemant Rathod) or Assistant Vice President (Mr. Tushar Jariwala). I was informed by Mr. Rathod that he will personally let me know about the still pending documents by the next day. That was not true. It was than i learned that not only the employee but the senior VP also does not value his words and commitments. However, 2 days later when i called back Mr. Rathod (VP) apologized for the mistake and time loss, informed me about my documents and that once again Mr. Mishra (Agent) will be collecting the documents from me. Later Mr. Jariwala called up informing me about some more documents (Which i specifically made a note of keeping in mind my previous exp) . Later, when Mr. Mishra came all the documents were submitted and another FALSE COMMITMENT given. I was informed that the Loan amount will be disbursed the next day and i will receive a call back informing me about the same.

That did not happen hence, once again i called back to learn from Mr. Jariwala, in a very casual attitude says "not so soon, it will take time". When asked for the reason and the information given by Mr. Mishra, the response was that there are some procedure that needs to be followed and some more documents pending. I was informed my Mr. Jariwala that as all documents are submitted he will let me know the date of disbursement in about 2 days (that would be the 20th of DEC). Once, again a false promise and since i did not receive a call, i called back on the 21st of Dec to learn, once again SOME MORE DOCUMENTS ARE PENDING.

I completely fail to understand the process that this bank employee's follow. Is there no one to regulate and command these guys to work. Since, the time i have applied for a Loan through this bank i have only experienced Unprofessional, incompetent, negligent and casual attitude towards work from the employee's. All done by them is FALSE PROMISES GIVEN AND TIME WASTED. It is a shame that not only the Agents but this behavior is demonstrated by the Vice President and Senior Vice President.

Until now i have submitted various documents, multiple times.

Could I please ask someone to look into these matters - not only on my behalf but also on behalf of other customers, and in fact on behalf of the bank, as well.

I look forward to hearing from you.
Yours faithfully

Meditto Fernandes

The first letter submitted to the Senior VP is as follows:

22nd November 2010

Meditto John Fernandes
A/6, Nissar villa,
Manvel pada road,
Virar (East)
Mumbai – 401303

The Bank Manager,
Punjab National Bank,
Bandra (East).

Subject:- Delay in Loan processing and casual attitude demonstrated by Bank employee towards work

Dear Sir/Madam,

We applied for a Housing loan through Punjab National Bank in the month of August 2010 and were informed that the loan amount would be disbursed in approximately 10-12 business days. However, this information was incorrect and your bank employee incompetent. I will explain the problem below.

We have applied for a Housing loan (Loan amount Rs. 8 Lac) for a flat that we have purchased in Rashmi Gardens (Virar). We were referred to Punjab National Bank for the Home loan as the bank has a tie up with the builders. One of your employee (Mr. Mishra) who is handling our loan case informed us that the time as mentioned above. We were happy about the quick processing and inquired about the documents required in order to process the loan. Mr. Mishra, informed us about the salary slips, Form 16 for 1 year and bank statements for the recent 6months.

Unfortunately, Mr. Mishra does not carry any checklist to make sure what all documents are required for processing the loan nor he does a follow up with the customer informing them about the loan process. When inquired for the delay in processing the loan we received a reply, that some documents are missing. Hence, once again we had a list of documents that we had to submit (Along with the guarantor document) and once again given a time frame of 10-12 business days.

Since the loan was not yet processed we inquired if the loan amount could be increased by another Rs. 28,000 which would cover the entire amount for the loan. The reply which we received from Mr. Mishra was “The builder does not agree to it as he wants that amount in cash from the customer and hence, the bank cannot process the additional amount”. Another mislead information given. Additional charge that we had to pay was the Frankin that Mr. Mishra asked us to do stating that it is the duty of the customer to get this done. We spend approximately Rs. 2500 for the same. However, later when we contacted the builder we learned:
1.) That the builder was not contacted by Mr. Mishra and that the builder has no objection if another Rs 28000 were added to the initial loan amount and not given in cash.
2.) The Frankin is done by the builder and not the customer.

When we questioned Mr. Mishra regarding the amount spend for Frankin we were informed 2 different types of Frankin need to be done. We inquired about the Frankin in a Branch of Punjab National Bank at Vasai and learned that there be only one Frankin that is done by the Builder. This is a blow to us for the trust we had in Punjab National Bank and Mr. Mishra.

Regarding the follow up by Mr. Mishra, I would like to inform you that Mr. Mishra has cancelled several appointments without prior notice thereby disturbing my work schedule and finally when he comes for a follow up we learn that there are some more documents pending and the timing of his appointment are inconvenient and totally unprofessional (after 8.30 PM). When confronted and questioned about the cancellation of appointments the reason I received from Mr. Mishra was “I have other work and this is not the single assignment given to me” which is shocking. Also we have experienced an Unprofessional, incompetent, negligent and casual attitude towards work from your employee Mr. Mishra and this a shock not only for me (The customer) but also for the builder, however to no surprise I learned that Mr. Mishra has shown his inability to work previously as well.

Finally I would like to know if the amount that I spent for Frankin (Rs. 2500) can be reimbursed and the time frame for the loan to be finally processed. Could I please ask you to look into these matters - not only on my behalf but also on behalf of other customers, and in fact on behalf of your bank, as well.

I look forward to hearing from you.
Yours faithfully

Meditto Fernandes

The email sent to the Senior VP is as follows:

Meditto Fernandes
A/6, Nissar villa, Manvel pada road,
Virar (East), Mumbai. 401303
November 29, 2010
Hemant Rathod
Punjab National Bank,
Housing Finance Limited.
Sahakar Bazar, First Floor,
Gurunanak Rd., Opp. Railway Station,
Bandra (W), Mumbai 400050
Dear Mr. Rathod ,
Subject: Pending Information:

This is in reference to the conversation we had on the 26th of November 2010 regarding the Home Loan. After a brief and time consuming conversation with you, I was finally informed by you that you will be checking all the records and details and will give me a call back on the number(s) provided to you latest by the 27th of November to inform me if the Loan can be processed and if “YES” the approximate time frame required to process it.
However, after the service I received for the past 3 months in processing the Home Loan, this comes to me as no surprise that I did not receive your call and information wasn’t provided. Hence, I request you to follow up on my case and revert with the fore told information as soon as possible.
I expected a much higher level of service from you, and I am quite disappointed.
Kindly reply to this email with the information or you can contact me on:

Phone – (900) 409-4693,
Alternate number – (997) 578-2991
Email – /

Meditto Fernandes