Sub:- Injustice to new enterpreneur and non compliance of RBI Guidelines by PNB bank Manager Mr. S K parbhakar.
I would like to introduce myself as Pankaj Kumar(B.E. Mechanical).I am an Engineering Graduate and having 20 years experience of working in Mechanical industry.
In my 18 years career of working in export houses, i developed my self as an enterpreneur and inspired by Govt. of India’s enterpreneur development schemes i started my own bussiness of manufacturing sports goods.
I build an International norms compliance factory and my factory is approved by Top world renowned sports brands and we are exporting sports goods to almost all cricket playing countries.
Since we are approved by big brand so we needed a short term capital loan to execute orders in hand of amounting almost Rs. one crore under colleatral free scheme of RBI.
for this, I applied for short term capital loan from Punjab National Bank, bank enclave, phase 2 jalandhar.
I submitted all the required documents along with International brand’s export order copies valuing approx. Rs. 80 lacs.I started this process on january 18, 2015.
From the day one, bank Manager was reluctant to disburse loan to us although we were operating a current account for the last 6-7 years in this bank and don’t even bother to listen us and reply to our emails.
Initially he said that there is no colleatral free scheme of RBI but when i sent him the RBI guidelines(Email enclosed) then he asked for the documents. After collecting all documents and after two and half months(Order execution time passed by this time) of my repeated reminders he denied to disburse the loan.
Since we were having orders of a big brand and seeking the behaviour of Mr Parbhakar, SR Manager PNB ,
We approached State Bank of hyderabad for the loan.After seeing our international compliance factory set up and export orders of big brands they took no time to disburse the loan to us.
had we been relying on Mr. Parbhakar(PNB bank), we would have been in great trouble of loosing our reputation and orders which could be resulted in loosing foreign money by the country.
Its my humble request to your good self that
1.Please look into the matter that why two bank’s rules are different on RBI guidelines.
2.Why banks are harrassing new enterpreneurs.
3.Had i not been sending the RBI guidelines to PNB they straight away refusing to accept my application.
4.If this practice continue, no one will enter into enterpreneurship and PRIME MINISTER SH. NARENDER MODI’S DREAM OF “MAKE IN INDIA” WILL HAVE NO VALUE AND WILL REMAIN IN PAPERS ONLY.
I am enclosing all email conversations with PNB bank Manager Mr Parbhakar for your referance please.
Thanx and Regards
262, bank enclave
From: Pankaj@KGN [email@example.com]
Sent: 02 February 2015 11:16
Subject: FW: Capital Loan
Attachments: KGN PRO PL 31-12-14.pdf; Provisional Balance Sheet 31-12-14.pdf
From: Pankaj@KGN [mailto:firstname.lastname@example.org] Sent: 27 January 2015 10:44 To: ‘BO:BANK ENCLAVE JALANDHAR’ Cc: ‘email@example.com’ Subject: RE: Capital Loan
Dear Mr Parbhakar
As per our discussion in your office on 21-01-15, please find attached Provisional balance sheet as desired by you.
Please advise up to what amount you can sanction capital loan to us as now as per our discussion all the documents are submitted with you.
As discussed, our requirement is Rs. twenty five lacs only.
Approx. how many days will it take to process this loan.
Please keep Honourable Minister of State for social Justice and Empowerment Mr Vijay sampla in loop when replying to this email as his good self wanted a CC of this reply.
Thanx and Regards
From: BO:BANK ENCLAVE JALANDHAR [mailto:firstname.lastname@example.org] Sent: 19 January 2015 10:55 To: Pankaj@KGN Subject: RE: Capital Loan
FROM PUNJAB NARIONAL BANK BANK ENCLAVE 4513 19-01-2015
WE DO SHARE YOUR OPINION,THAT COLLEATRAL FOR LOAN UPTO 10 LACS NOT REQUIRED . BUT YOUR DISSCUSSION WITH US WAS THAT YOUR REQUIREMENT IS Rs 35- 40 LACS.
IN CASE YOU ARE INTERESTED YOU MAY CALL ON US TODAY ITSELF, FOR ELABORATE DISCUSSION IN THE
MATTER. BUT PLEASE DO BRING AUDITTED BALANCE SHEEETS OF PREVIOUS 3 YEARS, AND POVISIONAL
BALANCE SHEETS AND P&L , COPY OF PAN CARDS OF PROPRIETOR , AND TAN NO OF THE FIRM,SIF ANY
FOR GENERATING OF CIBIL REPORTS
P.K.PRABHAKAR SR MANAGER
From: Pankaj@KGN [email@example.com] Sent: Sunday, January 18, 2015 10:08 PM To: BO:BANK ENCLAVE JALANDHAR Cc: firstname.lastname@example.org Subject: Capital Loan
Dear Mr parbhakar
I would like to introduce myself as Pankaj Kumar.
I am an Engineering Graduate and having more than 19 years experience in the Mechanical Industry and is currently Looking after KGN Industries as a Managing Director.
As you know, I am operating a current account no. 4513002100000408 in your bank since 2007-2008.
Since then I have not availed any loan/credit from the bank.
As discussed few days back, We at KGN Industries, require Capital loan and in this regard I submitted the balance sheets as well as the copies of the orders from a world renowned brand amounting Approx. Rs 75 Lac. In addition to this, a copy of an Export order amounting approx. Rs. 12 lac has been submitted.
As discussed, we require this loan under the RBI’s Collateral free loan scheme.
But your good self said that this scheme is not available in your bank.
Below is a link mentioning that bank are not required to ask for Collateral Security up Rs. 10 Lac loan.
A.11. In terms of our circular RPCD.SME&NFS.BC.No.79/06.02.31/2009-10 dated May 6, 2010, banks are mandated not to accept collateral security in the case of loans upto Rs 10 lakh extended to units in the MSE sector. Further, in terms of our circular RPCD/PLNFS/BC.No.39/06.02.80/2002-04 dated November 3, 2003, banks may, on the basis of good track record and financial position of MSE units, increase the limit of dispensation of collateral requirement for loans up to Rs.25 lakh with the approval of the appropriate authority.
I am attaching the required documents once again for your consideration and final decision please.
Otherwise, I will have to shift my account to another bank please.
Thanx and Regards
262 Bank Enclave
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