The Bank follows the following procedure for sanction of any loan
On receipt of Loan Application for any kind of credit facility from the applicant, the bank
shall immediately enter the same in the
Loan Receipt & Disposal Register of the bank and issue the receipt of the loan application
to the applicant along with the check list
for the submission of required documents for the sanctioning of the applied facility.
The branch shall appraise the loan application immediately and sanction it on merits after
completing all the required formalities
within a period of 15 days after the receipt of all information and documents as per check
list.
If the proposal falls beyond the lending powers of Branch Head, the branch incumbent shall
submit the loan application to the
competent authority for sanction, within 15 days of its receipt.
The competent sanctioning authority shall dispose-off the said loan application at the
earliest but not later than 15 days after the
receipt of all information as per check list and satisfaction of observations raised, if
any.
