Showing posts with label bank. Show all posts
The Information Conundrum
Wednesday, November 19, 2008
This post has a prelude in the form of an ordeal experienced by yours truly while and after purchasing a house.
Starting with obtaining the EC (encumbrance certificate) from the registrar office by paying Rs.200. Assuming that he has applied for a home loan (as in my case), he needs to submit all the documents pertaining to the land along with the EC to the bank, after which verification is done whether the said property exists with the mentioned configuration. Forgot to mention that the bank application form extends up to 50 pages and includes approximately 40 signatures. Of course, majority of the attributes are filled up by the bank agent himself. However, you need to submit about 5-6 varieties of proofs to corroborate you as you. Then another gentleman from the bank would pay a visit to your office and inquire with your HR regarding your existence in the organization.
It's only in dreams that you get your home loan sanctioned in the stipulated time of 1 month. You need to call the bank or the agent at least 100 times to know the status of your application.
Once you get your loan approval letter, you can have the registration done at the Registrar office where you find hell lot of helpers, of course for a fee. You need to submit the helpers the relevant documents and a few thousand bucks for them to prepare the necessary documents. All you need to do is to sign like a dumb fella on the documents wherever they ask you to. A few hundred bucks will go into the pockets of the officials without which your file doesn't move an inch. Oh! there is another crucial step of paying the registration amount, arrived at by the helpers after some intriguing and amazing calculations, in the bank and obtain a DD before the signature saga.
There ends the registration process, but that doesn't mean that the house is yours. The tormentation continues.....
More in the next post.
Starting with obtaining the EC (encumbrance certificate) from the registrar office by paying Rs.200. Assuming that he has applied for a home loan (as in my case), he needs to submit all the documents pertaining to the land along with the EC to the bank, after which verification is done whether the said property exists with the mentioned configuration. Forgot to mention that the bank application form extends up to 50 pages and includes approximately 40 signatures. Of course, majority of the attributes are filled up by the bank agent himself. However, you need to submit about 5-6 varieties of proofs to corroborate you as you. Then another gentleman from the bank would pay a visit to your office and inquire with your HR regarding your existence in the organization.
It's only in dreams that you get your home loan sanctioned in the stipulated time of 1 month. You need to call the bank or the agent at least 100 times to know the status of your application.
Once you get your loan approval letter, you can have the registration done at the Registrar office where you find hell lot of helpers, of course for a fee. You need to submit the helpers the relevant documents and a few thousand bucks for them to prepare the necessary documents. All you need to do is to sign like a dumb fella on the documents wherever they ask you to. A few hundred bucks will go into the pockets of the officials without which your file doesn't move an inch. Oh! there is another crucial step of paying the registration amount, arrived at by the helpers after some intriguing and amazing calculations, in the bank and obtain a DD before the signature saga.
There ends the registration process, but that doesn't mean that the house is yours. The tormentation continues.....
More in the next post.
Help Me Mate!
Saturday, February 02, 2008
"We are now surviving on a six-million dollar bank overdraft," said Arjuna Ranatunga, chairman of the Sri Lankan cricket board.
He has approached the BCCI to bail them out of trouble. Seems like the former Sri Lanka captain has forgotten the ICC or his government and feels that the BCCI is more important than the cricket's highest governing body. That might (might not be) also be one of the reasons behind supporting India during the Harbhajan-Symond's row.
A strange thought has just come to my mind "What if the BCCI asks all the Indian players to contribute their one test match earning toward revamping the Sri Lankan board?"
Anyway, the big brother has vowed to offer support. With India set to tour Sri Lanka during mid 2008, the Lankan cricket board's bank account might smile again.
Are requests from the cricket boards of Zimbabwe, Kenya and Pakistan in the pipeline?
He has approached the BCCI to bail them out of trouble. Seems like the former Sri Lanka captain has forgotten the ICC or his government and feels that the BCCI is more important than the cricket's highest governing body. That might (might not be) also be one of the reasons behind supporting India during the Harbhajan-Symond's row.
A strange thought has just come to my mind "What if the BCCI asks all the Indian players to contribute their one test match earning toward revamping the Sri Lankan board?"
Anyway, the big brother has vowed to offer support. With India set to tour Sri Lanka during mid 2008, the Lankan cricket board's bank account might smile again.
Are requests from the cricket boards of Zimbabwe, Kenya and Pakistan in the pipeline?
