Quick loan sanctions raise confidence on bankers

Jamshedpur No Comments on Quick loan sanctions raise confidence on bankers 39

Mail News Service

Jamshedpur, July 16: Contrary to people’s belief that bank loans require a lot of paraphernalia and sanctions take up a long time, the Branch Manager of State Bank of India Abhay Kumar Verma today disbursed a car loan application of Jadugoda resident Ajit Kumar Das within two hours. The bank staff concerned checked all documents related to Das’ loan application after which Branch Manager Abhay Kumar Verma sanctioned the loan. The whole process took just two hours. When contacted, Verma said that he had joined the branch barely a month earlier and that he had sanctioned 15 personal and vehicle loans. He stated, “My intent is not to keep people waiting. Such quick disbursal of loans will kindle people’s confidence on the bank.” He however regretted the holdup on sanction of education loans. In this regard, the SBI Branch Manager said, “There is a persistent link failure on our Vidya Lakshmi portal. We have informed the IT expert and have asked for quick rectification of the fault so that education loans can be sanctioned and transferred to the respective applicants’ accounts.”

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