Got my T1G rejected on 11th Feb.
I have shown my funds from a Cooperative bank and the BHC has rejected stating that " the cooperative bank is not regulated by the Reserve Bank of India -RBI".
I approached the RBI directly and got clarified from them that they regulate the Cooperative Bank in which i have shown my funds.
I got a letter from RBI stating that " RBI regulates the so-and-so Cooperative bank according to the Banking Regulation act 1949 "
I have submitted the same along with my Administrative Review Form on 17th Feb.
I dont understand on what basis they had rejected my application.
Its really frustrating. Had to wait for two months for thier refusal. And iam not sure what are they gonna come up with in 28 days.
I dint get any reply from the BHC. as a token of acknowledgement on receiving my AR form. What will they normally do ?
Moderators, senior ppl, what do you guys think ? Should i email them asking for the status.
What if they reject it again for any silly reasons like this ?
Will i be eligible for the Admin review again ?
They are really playing with our patience.
