Bank loan

As per RBi instructions bank has to supply certified copy of the loan application,so you may obtain it.

Customer should always take back certified copies of all documents including KYC docs from bank.

You must have received loan sanction letter.

You are right bank has to comply with KYC norms. Bank has to mark "OSV"- original seen and varified on KYC docs,and has to enter customer data as per KYC proofs only.Banks issue circulars to staff to see the originals and display thier KYC norms in banks and on websites.

If you are paying loan instalments and have original KYC docs submitted to bank, you have not committed any default.

Bank have their rules on eligibility of loan that includes quantum of loan(s) which can be issued. Usually/roughly it is 4 times the take home income net of all liabilities e.g. loan EMi etc.

Dear

Both of ways possible, What do you want.

Thanks much for the suggestion.

The basic question that needs clarification is as a customer, while getting the loan, along with other formalities you supplied the photo, photo id, ration card, pan card etc, after complition of all documents and verification of documents the loan was sanctioned. How can it be possible that for the same person from the ID proofs you get the different middle or last name?

If so, then why not the name of loanee with different middle or sauname is mentioned on the printed loan statement from the bank? The printed bank loan statement shows the correct name of the loanee in all loan accounts.

if it is the fraud case, then who is responsible, the bank or the loanee? how come loanee had the access to the computer system of the bank to change the middle or last names? who filled the form for getting loan the loanee or the bank personnal ?

kindly suggest.

regards

arvind

The borrower has to compare the loan application(s), which are to be filled by borrower,with KYC docs.If the borrower's name and sirname is same as per KYC docs in all loan application(s) signed by borrower, then borrower is not at fault.

If the borrower has not filled the loan application(s) but has signed on the loan application(s), borrower is accountable. Bank is responsible to cross check the loan application(s) and compare name with sirname with KYC docs and if bank accepts the loan application(s) even in case of some variance bank is accountable.

Is the name and sirname in loan sanction letter same as in KYC docs?

Obtain certified copy of loan application(s), KYC docs supplied with all loan application(s) and compare.

sir thanks much for the instant suggestion(s). i am already feeling confident.

still i wish to ask how is it possible to have a different name on loan document and loan statement printed by the same bank.

regards 

Finally it is reiterated that :Obtain copies of loan application of all loan a/c's. bank is under obligation to provide/supply it to the borrower.