Source: ET Wealth – 14 jan 13
Q: I took a home loan from a private bank. After the loan was disbursed, I asked the bank for a copy of the valuation report, but it refused to give it, stating that the report was an internal document and could not be given to customers. Is the bank right in refusing the report or am I entitled to a copy generated by the bank on the property that I am buying?
A: the Code of Bank’s Commitment to Customers does not say anything when it comes to certain documents obtained by the bank for the purpose of processing loan applications. These include the valuation report, lawyer’s report and so on. However, since you have already paid the amount for obtaining the valuation report, there is no reason why the bank should not give you a copy. You can submit your representation to the bank in writing. If it sticks to its stand and denies access to the document even after taking this step, you can consider taking up the issue with the banking ombudsman for a clear picture on the matter.
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