Is Bank of India Listening?
For the last six months, I am requesting a meeting with the chairman of the bank and even their office is not bothered to reply or acknowledge.
This is regarding one unit of their branch at Madhapur Hyderabad, where the unitholder has requested about 12 months back to restructure the account and requested for the formation of a committee as per RBI directions of March 2016 where they want postponement of term loan or moratorium but both branch and zonal office are not moving an inch. Neither they are accepting or rejecting and only verbally they are postponing. The unit is defence ancillary and because of problems of the main unit with the ministry of defence the order inflow has slowed down but now order flow has increased for six months and the branch is insisting to pay money for term loan which is not allowing the unit to generate enough revenue to execute the pending orders.
Now where the unit can go? These kind of problems at branch level are in thousands, if not in lacs.
So with this newsletter, I am appealing the chairman to interfere and give appointment to resolve before it becomes too late.