Definitely not a dost jaisa bank

To the Prime minister Of India
Delhi-110001

Dear Shri Narendra Modi,

First let me thank you for being our Guardian. As a citizen of India I am proud to have you as our “PRIME MINISTER” and we all know that we are in safe hands now.

I was the Chairman and Managing Director of Sleepins Apparels Pvt. Ltd. 2333, Ubalenagar, Pune Nagar Road, Wagholi, Pune, residing at “C-22 Konark Splendor, Vadgaonsheri, Pune-411014. 

“Sleepins” was the leading Night Wear brand in the country in 2009 with a top line of about 100 crores. I was in business for 35 years, and my initial Cash Credit was 10 lacs in 1998, as my business kept growing so my loans kept multiplying and in 2009 my exposure was around 20 crores. 

Union Bank approached me in 2008 along with IDBI to take over the loan amount of 17 crores from my existing banks. Due diligence about me and my company was done by Union Bank for around 2 months where my credentials have been excellent as per the proposal for sanction made by Union Bank, not a single red line is seen in the proposal. I was sanctioned an amount of 19 crores, 17 crores of take over and 2 crores of additional top up. 

After sanction as per the sanction terms Union Bank of India and IDBI Bank visited my company at 2333, Ubalenagar, Wagholi, Pune, and had verified the stocks of Rs.18.14 crores at the factory and warehouse. 

Unfortunately on March 2009 the Factory and Warehouse at 2333, Ubalenagar, Pune Nagar Road, Wagholi, Pune, was gutted down in a fire which lasted for approximately 20 hours where losses in the tune of Rs.25 crores upwards was registered with the Police station and fire brigade.

As per the sanction letter of IDBI Bank Sleepins had to insure the stocks with their channel partner Bajaj Allianz on expiry. But I was forced to cancel the existing policies prematurely with Cholamandalam and insure with Bajaj Allianz. Mr Salil Chhada from Bajaj Allianz had visited the factory before issuing policy of Rs. 21 crores where stock was verified only 7 days prior to the fire. 

21st March 2009, Mr. Parimal Shah and Mr. J. Bhansali (Surveyor of Bajaj Allianz) had visited the factory and after survey had requested me to submit the required documents to arrive at the claim amount of Rs. 19 crores approximately.

In various meetings held between me, IDBI, Union bank and Bajaj Allianz, it is noted in the minutes of the meeting that the stock at the factory and warehouse premises was Rs. 18.14 crores. It is also noted that no document was pending to be submitted by Insured. It was also noted that none of the documents submitted were fabricated or bogus nor any lacuna was found during investigations.

A meeting was called on 11/03/2010 by bankers, insurance company and Surveyors Parimal Shah and J.C. Bhansali. I am the insured but I was not called to attend this meeting. What conspired in this meeting is unknown.

As subsequently on 26th June 2010, I received a letter from Bajaj Allianz stating that the claim of Sleepins Apparels Pvt. Ltd has been repudiated due to submission of fabricated documents. 

The Claim was rejected even prior to receiving the surveyors reported. 

IDBI Bank registered a criminal complaint against me and other directors with the EOW stating that I have siphoned an amount of Rs. 2.4 crores, whereas the EOW after investigation didn't find any criminal action against me and others.

IDBI Bank then filed an FIR under section 156(3) for the second time Bajaj Allianz, Parimal Shah and J.C. Bhansali gave a written statement to the Investigating officer (IO) that documents submitted by Sleepins are fabricated, I and the other directors were arrested and in lock up in the Yerwada Police Station for 4 days. Due to this the local media flashed us as criminals and willful defaulter.

After investigation the (IO) didn't find any criminal action planned by the directors, the (IO) didn’t find any documents fabricated by the directors during investigation and thus he filed his final report in the JMFC under section 169 of CRPC along with B-summery, stating that the complaint filed by IDBI Bank is “FALSE”.

IDBI Bank with the support of Union bank of India/Bajaj Allianz and surveyors Parimal Shah and J.C. Bhansali filed a criminal complaint against me whereas I was not found guilty. 

Union bank/Bajaj Allianz/IDBI Bank have together tortured me for past 5 years where I have lost my properties, my own house, my reputation and business, even after all this the general manager of Union Bank threaten me that he will put me in jail, hence I lost control over me and succumbed to a heart attack and was admitted and had to undergo by-pass surgery immediately.

As per the sanction letter of Union Bank of India wide the sanction letter dated. 3-12-2008, I had submitted all the documents as required. (This was a pre condition of Union Bank of India to disburse sanctioned amount of Rs. 9.65 cr.) But as I lost all my documents in the fire, Union Bank and IDBI are denying to give certified copies of the documents submitted by me even under RTI. 

More than 300 people were working in the factory where salaries have been pending and all of them have lost their job due to Union Bank of India, IDBI Bank and Bajaj Allianz.

Government dues are pending, IDBI Bank has illegally declared me and my family insolvent.

Sleepins Apparels Pvt. Ltd was valued by BCCL (Times of India Group) at Rs.200 crores and had invested 4 crores in the company. A business with 50 years of reputation and stock holding of 18.14 crores, the bankers/insurance company has ruined my reputation.

Bajaj Allianz general insurance is the mastermind and is watching all this as a spectator. Bajaj Allianz has duped public money of 20 crores and has become richer by 20 crores.

Sir! Is the borrower always a criminal, cant the banks go wrong? Just because they are institutions nobody can touch them.

It is my humble request to you, please look into the matter as 20 crores of public money has been duped, and I have lost everything and looked upon as a fraud.

I have filed a criminal complaint No. 1571 dated. 28-02-2014 to the Commissioner of Police, Pune against officers of Union Bank of India, IDBI Bank and Bajaj Allianz 

I have also filed an application for investigation with the Yerwada Police Station on 6th September 2014 for investigation.

I want the police to register an FIR and investigate in the matter.

Regards

Kishor Chhabria
Pune

'Bank Aisa Dost Jaisa' Really??

With due respect to all IDBI Officials, 

I am Bharadwaj Diwakar Maskikar. I have a salary account with IDBI Bank. The customer id is 7832982. My 'Bank Aisa Dost Jaisa' experience started since the day I received my first salary in October 2013. Since I am a resident of Pune and am in Vashi only for work and share room with 4 other people. Hence for security purpose, I left all my bank related documents and also the cheque book by mistake at Pune. I bank with ICICI Bank, CitiBank and SBI Bank as well. Since ICICIs services are at par with my banking needs, I have all my transactions and emi payments through ICICI Bank. I was due to make payments during the first week and hence, wanted to withdraw cash from the account. Some portion though negligible of the money in your branch belongs to me. I worked hard for a month to earn that money. Yet I was denied to be paid all the money in the account only because I did not have a cheque. I am not really educated on the norms of RBI, but surely RBI does not appreciate nonpayment of money to the customer. His own hard earned money. I ended up getting into an argument with the Branch Operations Manager (Vashi Palm Beach Road) that day.

Next 'Bank Aisa Dost Jaisa' experience was when I was in need of money and wanted a personal loan. I was advised, since I am a salary account holder, I cannot apply for a personal loan but an overdraft on my salary. The gentleman at my home branch was supposed to talk to the Branch Manager and get back to me. The query could not be addressed the same day as the Branch Manager(Vashi Palm Beach Road), was not around. Guess what, I never received the call or any kind of communication.

Next 'Bank Aisa Dost Jaisa' experience was when I needed my account statement for Visa Application. I approached Koparkhairane Branch as it was the nearest to my place in Koparkhairane. The Visa appointment was due 2 days from that day. I had received the statement from the same branch two weeks prior to that day. However this time, while I was filling the application form, the then Branch Manager (Kopar Khairane) walked to the desk and advised not to serve my request. When I checked with the gentleman who took the application last time was himself surprised to the reasoning given by the then Branch Manager (Kopar Khairane) and said I would need Branch Manager (Kopar Khairane)’s approval. According to Branch Manager (Kopar Khairane), RBI instructs banks to issue passbooks to every customer. All the account statements need to be in the form of passbook and not statements separately. I informed him of mine being a salary account, may be passbook is not required. He asked me to approach my home branch and have the request served there but not here. Mine was a polite query and his was a rude and hurtful. He was not bothered of the purpose of the request. I yet again checked with the officer who served me on the previous request and approached Branch Manager (Kopar Khairane) at his cabin. I questioned if passbook was so important why didn't IDBI have it supplied along with the welcome kit or may be have an instruction placed to collect it from the branch. Branch Manager (Kopar Khairane) shouted if I am questioning his knowledge on RBI guidelines and the IDBI's policies.

Feeling harassed, I approached my home branch. They followed policies and RBI guidelines contradicting with Koparkhairane branch. I wonder if RBI has different set of guidelines and polices for every branch and every bank. Could that be the reason of the declining Rupee. Convinced I was, Branch Manager (Koparkhairane)’s knowledge on RBI Guidelines and even the IDBI policies is questionable. Branch Operations Manager (Vashi Palm Beach Road) helped me get to Branch Manager (Vashi Palm Beach Road) share my experience.

How could an educated and a literate gentleman at the level of a Branch Manager respond to a customers’ request without understanding the purpose of the application / request.

Next 'Bank Aisa Dost Jaisa' experience was when I forgot my ATM pin. I placed a new request in the Mahape branch which is a stone throw away from my office. Before placing the request I checked with the officer there, if it would be allowed and will be taken care like in the home branch. I was due to travel to UK only a couple of days after the application made. The ATM pin was at the home branch and was never delivered at the registered address. Then I was informed of the 'Bank Aisa Dost Jaisa' policy of having the pin at the branch and the customer needs to collect them from the branch. Really!

I bank with ICICI and Citi as well. Any application made, the document is at my place in the next 72 hours (not working hours. Mind it). I gave a call to the home branch from UK and was promised by Branch Manager (Vashi Palm Beach Road) to have informed of it and courier it and also call my father conveying the same. He made note of my father’s contact number. My father kept waiting for the call which he never received. The Branch Manager (Vashi Palm Beach Road) himself did not fall by his commitment. 'Dost call karta hai' Manager ji.

I call the branch may be a few weeks later or may be a little over a month. ATM Pin officer (Vashi Palm Beach Road Branch) speaks to me. Informs the pin was undelivered. I don't accept this reason as I received communication from ICICI, HDFC and Citi during the same time frame. Since the pin was already destroyed the ATM Pin officer (Vashi Palm Beach Road Branch) takes a new request. She promised to have it delivered at my registered address. The pin is still undelivered. Frustrated by the situation, I make another phone call to the home branch. The call gets disconnected during the first attempt. Then it takes rounds from switchboard person to some officer then to ATM Pin officer (Vashi Palm Beach Road Branch) then to another officer. I should say Branch Manager (Vashi Palm Beach Road), your officers are illiterate of telephone etiquettes. Have them trained. I wanted to speak to escalate the issue of undelivered pin. I spoke to Branch Operations Manager (Vashi Palm Beach Road). She informs me the pin was undelivered yet again twice by two courier vendors as they do not service in these areas. Now, I understand the possible reason of undelivered communication previous time. I wonder who these vendors are. What kind of presence they have? How could IDBI engage a vendor with such a low presence? May be ICICI, HDFC and Citi have better vendors. IDBI should consult them, if they don't know how to evaluate a logistics vendor.

Next 'Bank Aisa Dost Jaisa' experience was when I had issued a bearer cheque to my father. He approached Dnyaneshwar Paduka Chowk branch in Pune with the cheque and was denied payment. I wonder on what grounds payment was denied when it was authorized a person with a valid cheque, with valid signature. I was in UK then. Had to make a call to the branch and speak to a lady who did not give me valid reason for denying the payment. Unconvinced by the reasoning, I called the branch manager there to understand the reason. I had to check with him if denying the bearer of the cheque the payment was a RBI guideline. The manager was convinced of violating the RBI guidelines and later made payment.
Do customers have to fight for their money with the 'Bank Aisa Dost Jaisa'. This is not 'Bank Aisa Dost Jaisa' experience. This is exactly 'Bank Aisa Dushman Jaisa'.

Respected Mr. Zonal Officer,

I am abroad. My parents need money. They are dependent on me. I am not able to get this money to my parents.

I hold some stock of IDBI. I bought this stock at double the current price may be 4 years back. I always kept wondering why the stock never crossed the mark I bought it at. Like me there could be many other customers with 'Bank Aisa Dost Jaisa' experiences. This could be the reason.

Branch Manager (Kopar Khairane)'s knowledge on RBI guidelines and Policies is really questionable. He also needs be trained on customer handling skills. He harasses customers. I hope this post of mine does not cost him his job but a training session on RBI Guidelines, IDBI Policies and some interpersonal skills.

Train every employee of yours with telephonic etiquettes.

Make customer friendly policies and processes.

In the 21st century people don't want to visit the branch very often. They want everything on phone and on the internet.

Try to be competent with ICICI or Citibank. They have the best customer experiences.

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Regards,
Bharadwaj Diwakar Maskikar