Got the SBI kit mail on 1-3-2010. Went to bank on 2-3-2010. Friends said the incharge in bank did not know anything in this and ppl had to argue with them to make the bank officers clear about this SBI kit.. THANK GOD.. I had my uncle working in SBI.. So he helped me in all formalities.
I'll update about the formalities for those who are taking loan from SBI later.
Now follows the procedure for those who choose to pay the whole guarantee amt..
1) have 3 copies of your photographs with you.[1-for wipro related forms,2-to be affixed in acc. opening form,3-to be attached as a enclosure for the purpose of passbook]
2)Have xerox copies of passport/driving license/pan card/voter's id. it is most better to have your passport. take with you the originals also
3)you 'll have to fill up the form 1,form 3 and the all the details in the account opening slip. see t that you sing in four places totally
4) even in these forms u'll be having few columns related to loan leave them blank or fill those columns "nil".
6)better have a bank employee and don't hesitate to ask even the small doubts you get.
7) The bank manager has to sign in form-1[wipro related],in account opening form[3 places in that form],has to attest all the photo copies. make sure that where ever he signs he writes his ss.no[officers code from SBI].
8)In the account opening form you'll need to witnesses to sign. so it is better to take with you a person who has account in that particular branch to which you visit.
8)Take a draft for rs.75,470
9)In form 1 right the D.D number,amount and D.D issued date.
10)verify all the documents once again. and give them to the bank staff who is helping you, he will put them in a cover,paste it,and put the bank's seal in that and give it back to you[p.s in some branches you need to take and go cover and in some branches they will use the state bank cover itself to seal the documents]
11)finally thank the officials and go back home keep that sealed cover safe.