Financial assistance from bank

sudhindra (Querist) 12 July 2013 This query is : Resolved
Dear experts,

my friend is an advocate, applied for loan from SBM Bank with a recommendation from the Devarajaurs development body, a govt department.
The above govt committee send a letter to the Bank requesting to lend loan of Rs 5lacks to the advocate who is needy.
Further the committee assures the advocate if the bank lend him a loan, the committee will reward a subsidy as per govt rule. but the bank yet to take decision. the procedure already completed one year time. please advice him -thanking you

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Nadeem Qureshi (Expert) 13 July 2013
not a legal query

Guest (Expert) 13 July 2013
Recommendation by any Government department is not binding on any bank for disbursal of loan. The bank has to satisfy itself if the conditions of loan are fulfilled according to its own norms and standards.

Sudhir Kumar, Advocate (Expert) 25 July 2013
private banks generally do not give loan to advocates, judges, policemen etc from whom recovery by illegal ways is not possible

Sudhir Kumar, Advocate (Expert) 25 July 2013
anyway it is not a legal query

prabhakar singh (Expert) 25 July 2013
Very practical info by Mr.Sudhir Kumar!

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