InvestorQ : As per the bcsbi commitment, we will convey in writing the reason for not exceding to your loan request for a loan or credit facility?
bappa Biswas made post

As per the bcsbi commitment, we will convey in writing the reason for not exceding to your loan request for a loan or credit facility?

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Ashish kumar answered.
8 months ago
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Mujhe loan chahiye apne bussiness ko badhane ke liye
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Anusha Savla answered.
8 months ago
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Banking Code and Standards Board of India (BCSBI) was established with a view to plan, evolve, prepare, promote, develop and publish comprehensive Codes and Standards for banks so that the customers could be provided fair treatment. BCSBI functions as an independent and autonomous body that monitors whether the codes and standards laid down by the Board are being adhered to by the bank, in letter and spirit.

In one of the Codes by the board namely ‘Banks’s commitments to customers’ it is mentioned that the bank will provide every loan applicant the reasons for rejection of their loan application either through e-mail, text message, or any other suitable mode.

Therefore, the message that you have outlined is in regard to the loan application made by you being rejected. The bank is conveying that they will tell you the reasons for rejection of your application in writing by intimating through any mode and expects you to wait until the receipt of such information before you take any further action.
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