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In November 2020, I approached an SBI manager for an MSME loan under the Standup India scheme. He assured us of approval, but kept delaying, citing COVID, audits, and head office issues. He asked us to wait for an interview call, but nothing happened, even after meeting the RM. Later, we found out the manager was transferred and had left our file untouched for 20 months, without informing the F.O. or anyone at the branch. Now, as I start a new venture with my own funds, can I file a complaint and seek compensation for the wasted time, effort, and emotional distress?
Yes, you can file a complaint with SBI’s grievance redressal department or escalate to the Banking Ombudsman if unresolved. For compensation, provide proof of losses and delays. Legal advice may help if the bank ignores your claim. Document all communications to support your case for time and emotional distress. For detailed legal advice and assistance, contact our helpline.