Grievance Status for registration number : PMOPG/E/2023/0165368
Grievance Concerns To
Name Of Complainant
Smt Rajesh Sharma
Date of Receipt
19/08/2023
Received By Ministry/Department
Prime Ministers Office
Grievance Description
Financial Services (Banking Division) >> Misbehaviour/Harrassment/Corruption by Bank Staff
Bank/Financial Institute : Punjab National Bank
Branch / Name of Bank and Branch : PNB Civil lines, Bulandshahr, Branch Manager - Akhilesh
An application under Article 51 A of the constitution of India by the proprietor of Om Gas Agency Smt. Rajesh Sharma wife of Brij Nandan Sharma.
Prayer-Honourable Sir, the applicant has made the repayment of one third of the total amount decided by Punjab National Bank but Bank is issuing the notices of auction repeatedly instead of renewal of loan account as assured by them quite obvious from communication dated 13/12/2022 of the bank addressed to the applicant. Vide attached page 4 to the grievance.
It is noticeable that chief manager, authorised officer, Punjab National Bank , secured credit issued the first auction notice on 10/02/2021 which was settled through OTS by making repayment by the borrower one third of settled amount and keeping the loan much below the limit. Vide page 2 of the attached PDF document to the grievance.
Chief manager, authorised officer, Punjab National Bank , secured credit issued the second auction notice on 19/07/2023 which is against the provisions of The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act 2002.
Undoubtedly The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act 2002 provides enormous unchallenging power to the bank but it is the obligatory duty of the staff of the bank not to misuse it.
How can loan provided by the bank may be considered non-performing assets if the 1/3 amount of the loan as decided why the accountable public functionaries of the bank has been paid by the applicant?
Here it is quite obvious that the extra ordinary power vested to the bank under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act 2002 is being misused by the bank staff arbitrarily which reflects the corruption in the working of the bank.
Here it is quite obvious that bank staff not pursuing the guidelines passed by the Reserve Bank of India regarding the
Grievance Document
Current Status
Under process
Date of Action
19/08/2023
Officer Concerns To
Officer Name
Shri Sanjeev Kumar Dhupar (General Manager)
Organisation name
Punjab National Bank
Contact Address
Corporate Office Plot No 5, Sector -32, Gurugram, Haryana
Email Address
pno@pnb.co.in
Contact Number
01244126244
Reminder(s) / Clarification(s)
Reminder Date
Remarks
19/08/2023
Here it is quite obvious that bank staff not pursuing the guidelines passed by the Reserve Bank of India regarding the declaration of non-performing assets vide RBI circular (RBI/2014-15/73 DBR.No.CID.BC.57/20.16.003/2014-15 dated July 1, 2015)
The matter concerns the working of the Role of RM Bulandshahr as the mockery of the law has been made by the branch manager of the Punjab National Bank who is violating the consumer rights of the widow of the army personnel belonging to the vulnerable section.
This is a humble request of the applicant to order an inquiry which may be carried out in transparent and accountable way so that arbitrariness and tyranny of the concerned bank personnel may be exposed.
The applicant had submitted the renewal application for the cash credit account before the branch manager quite obvious from the third page of the attached PDF document.
Branch manager may provide the details of the proceedings in regard to the renewal of the Cash credit account of the proprietor of the om gas agency.
It is quite obvious that branch manager of the Punjab National Bank is violating the consumer rights of the widow of the army personnel which is against the setup norms of the government.
It is quite obvious from the status of cash credit account CC account - 0069008700013264 total bank loan on the applicant is Rs.4385939.07 while the loan limit of the applicant is 50,00,000 rupees. Vide first page of attached PDF document.
Branch Details-BULANDSHAHAR CIVIL. lines
Customer Details-OM GAS AGENCY PROP RAJESH SHARMA KHURJA ROAD SARAI LOCHGAN PANNI NAGAR BULANDSHAHR
From:4718000100042 139 DEVENDRA KUMAR 58543427 09-08-2023 4385939.07 Dr.
The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act 2002 is a powerful instrument in the hands of the banks and financial institutions (FIs) as secured creditors. If the borrower becomes a ‘wilful defaulter’ as defined by the RBI Master Circular
19/08/2023
19/08/2023
On wilful defaulters vide RBI circular (RBI/2014-15/73 DBR.No.CID.BC.57/20.16.003/2014-15 dated July 1, 2015) SARFAESI Act proceeding can be issued even without notice to the borrower. Who is a wilful defaulter?
Deliberate non-payment of the dues despite adequate cash flow and good net worth, Siphoning off of funds to the detriment of the defaulting unit
Assets financed either not been purchased or been sold and proceeds have been misutilised Misrepresentation / falsification of records Disposal / removal of securities without bank's knowledge
Fraudulent transactions by the borrower. Banks/ FIs throwing overboard these norms, classify all the MSME NPAs as wilful defaulters to apply the SARFAESI lever. As per the Act, valuation of the asset has to be done and notify that valuation to the borrower before issuing public notice for auction of property. Bank has to give 30 days’ notice to the borrower regarding its right to proceed against the mortgaged property if he does not pay up the entire principal and interest.
To see the attached document to the grievance, click on the link