We had a meeting with Axis Bank today to seek a short-term loan or OD to pay in advance to buy stocks for an order where we hv no competition. . The guy who met us was so unimpressive and lacked enthu... he told us that the min loan amount wud b 3 lakhs but we would hv to show a profit of 3 L each for the last 3 years... we were zapped.. we did show a decent profit last year, but our break-even was 3 yrs and so 1st two years were red... he said not possible... we jus needed 1 lakh In the last two years we have transacted nearly 1.3 C thru Axis... not a single chq return... wots the point of a bank if it cant help based on past transactions and relationship ?
Posted on: Tue, 16 Sep 2014 17:55:59 +0000
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