Saturday, 28th March, 2020


Person with more than 10 crores pre-approved loans in emails is struggling to get 25k loan

13, Jul 2018 By dasu

Mumbai: Lathe Joshi badly needed twenty-five thousand to repair his old lathe machine which got damaged due to recent flooding in Mumbai when rain water entered his workshop. However, none of the banks are ready to offer him loan. office_office

“Every day apart from dozen emails from Dr. Batra and Myntra, I will have five to six pre-approved loans in my email box. When I go to banks and show them these messages, the bank staff will laugh at me”, said Lathe Joshi while speaking to us.

Bank manager would tell him, yeh toh sab SPAM emails hai Joshi Sahab. Aap ek kaam karo. “Take this number and call my friend. Just tell my name, he will give you loan with an interest rate which you would not have heard of”.

“Haan, 5 taka interest bola, eak mahine ka interest hai. If I have that much money why I would have come here. When Vijay Mallya, Nirav Modi, Rotomac Person needed, all these banks jumped over each other to help. Right? When I am asking for a small working capital loan for my workshop why they are telling they do not have money”, said Mr. Joshi who is worried how he will fulfill the orders of his clients.

Each bank has own set of problem. Some public-sector banks like SBI work for few minutes through their lunch day, then some private banks are busy firing or hiring their bosses. “They do not have time for a person like me, forget about the loan amount I have applied for”, said Mr. Joshi.

Disappointed with the ‘banking’ system, Lathe Joshi approached his local cooperator and MLA. After talking to them he realized, both are helpless as there is sometime for next election. Their hands are tied, but both assured him they will do something.