I stay in US and I involved my Father aged 65 yr with power of attorney to process loan for me. Initially I felt Indian banking has changed a lot and much is written in western media. I thought that Loan will process in 15 days and I will have house in 1 months time and its about 10 months and my father has to daily go to bank.
Based on assurance of bank we paid advance to property owner but bank failed to fulfill the promise. Document wise every thing was OK and we got a loan aproval letter also from bank. I paid advance cheque for loan processing fee also.
At one instance when my father went to IDBI bank he was informed to come around 5 PM. When he went the bank representative said we have not given processing fee, it seems he forget that we piad advance cheque. Anyway some how cash was arranged and it was given to bank.
Next day bank said because process has delayed for so long they need additonal papers from my employer in US, it was given, after a week they want email from HRD of my company which was done. After 3 weeks they want my new photo, ok that was also done. than I heared a stupid response that the two person has resigned from bank now they have shortage of man power.
What the hell is going on, had it not been my fathers dream to have House in Delhi I would have just scraped the deal and forget getting loan from IDBI atleast, just because I hope that loan will be done in another week we are not working with any other bank, this way I have lost precious hours in time, money over phone and courier for providing documents time to time and above all trouble to my old aged father. I wish some could tell me where can I lodge a complain against these inefficient officiers.