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02 - FAQs on Sanction Process

7. Is there any validity of credit bureau, field investigation reports
and sanction letter?
All reports and the sanction letter are valid for 90 days from the date of its
issue. Validity of Credit Bureau reports (CIBIL) is 60 days from the date
of its generation.

8. What should be done if the disbursement is not happening
within the validity period stated above?
In case the disbursement is exceeding beyond validity period, we need to
generate all the reports to validate the status of applicants or
co-applicants of the loan and accordingly process the loan. This process is
called “Re-credit”. The customer has to re-submit all the financial and KYC
documents. The process of field investigation, generating credit bureau
reports has to be done again. If there is a “change”, the sanction process
will be revisited to approve or offer revised loan terms or reject. If there is
“no change” the sanction process will be taken forward.

9. Is there any validity of ROI?

In case of variable rate of interest, the ROI stated on the sanction letter is
applicable on the loan as on the date of sanction letter. However, the ROI
prevailing on the date of disbursement would be the rate applicable and
any subsequent change would be applicable on the loan.

10. What if the employer of the customer changes the bank for
salary transfer or in case of SEP or SENP there is a change in
business account?
In case the employer changes the bank account, we need to get a letter
from the company or copy of the internal policy duly confirmed by FI, FCU
and or credit appraiser. Similarly in case of SENP and SEP, the reasons
should be valid to be confirmed as per the norms of PCHF

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