Legal Question in Banking Law in India
State bank of India Chennai having some different policy in home loans,ie,The builder should register the UDS(Un Divided Share of Land)at the time of first disbursement,Some builders didn't like to do this,So The customers who has booked in that project are unable to get loan from SBI,So many customers were affected by this policy, Some of the Nationalizes Banks accept the Builder's Policy(UDS @ 85%),SBI Andhra,Karnataka and Maharastra and most of the State's Local Head offices accepted the Builder's Policy,Chennai LHO Only didn't accept,Any Legal solution for this issue?
1 Answer from Attorneys
Better point out the practice followed up elsewhere by SBI and seek relief. If refused, send representation to Chairman of SBI. if no redress, complain to Banking Ombudsman.
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