First of all, these trainings provided by RBI will not make any difference as they work on commisions, Once my payment for my credit card was delayed and a collection agent called me, while speaking to him he told that he is paid a commision ranging from 5% to 15% apart from their regular salary(ranging from 4k to 8k). so it does not make difference as he would like to make more money, i.e he will use all practices to recover the money.
I would also recommend that we should have a credit card authority, which can govern these bad practices and bring some fair practices in terms of credit card repayment and collection.
One instance which reminds me of ABN AMRO bank, which goes that they issue you a card and incase you fail to repay the amount for 45 days, they will block your card and will ask you to clear the entire outstanding then they will unblock the credit limit, but even after clearing the entire debt of your card and calling up the customer care for several times, the reply you will get is that your card is been permanently blocked and you need to apply for a new card.......
when these things are supposed to happen why the hell the customer service people does not inform the customer and give false commitments.
In the first place, our government wanted to make our people spend more money on consumer goods once considered luxury. They brought in foreign and private banks to lure people. They campaigned, lured and sometimes even forced people to take loans. There were regular phone calls, sms, visits, what not. The sales picked up; cyclist bough bike; biker bought car; car owner bought one more or a newer car; once the marketers got their money, bankers started their work. Naturally enough, one who could not afford a car having bought it for zero down payment and 100% loan, cannot be expected to be regular in EMI payments. Private bankers cannot sit idle - after all it is their business to lend and recover. Traders got their sales and profits, bankers got their business and interest; in some cases the properties were confiscated ignoring already paid EMIs. Once the matter has gone out of hands, the government has now waken up to people's problem! What a surprise. No wonder, when elections are round the corner, any magic can happen. Why should anybody who cannot normally afford to rush in to buy material on such loans. They have congested roads and their own lives now. Nothing but globalisation effects. You know, in States everyone has a car - atleast so they show in TVs. So why not we follow them? But also be aware, in US they recover just like this. This is also globalisation effect, after all! Jai Manmohan, Jai Chidambaram.
ICICI bank is below even third-grade.... They sent goondas after me, even though I informed them about changing the source bank account for my home loan EMIs.. a good one month in advance. And ICICI bank says 15 days before due date. All right yaar, granted some ignorant employee of yours goofed up... goonda bhejne ka kya matlab hai??
Plus I am paying 2% higher interest rate on home loan, even though almost every other pvt bank has reduced home loan rates for existing customers.
Same is the story with their credit cards. I got one cancelled after they charged me annual fees even though they said no annual fees.
I even shut down my savings account with them because of pathetic service, crowded out-of-cash and non-working ATMs, stupid charges for even cancelling a lost cheque book.
RE:Avoid any transaction with ICICI bank
by tomcat on Apr 30, 2008 07:37 PM
Informed them.. means.. not on phone. I actually went to their office and filled up a form for changing the source bank account from which the EMI would be deducted..
And they charge some 500 odd Rupees (plus service tax extra) for that !! Fir bhi kaam dhang se nahi kiya
Icici bank should not call itself a bank.Nationalised banks recruit employees and train them as professionals where as ICICI bank rehabilitates Goondas. i use ICICI as a post office for making internet transfers as they have thank fully brought in technology.Employees handling their counters are just english speaking parrots who do not even understand banking
it is beyond my understanding as to why the government is hell bent on favouring these banks - why not tighten the noose - strict rules and regulations on reimbursement of loans and issue of credit cards on verficaitons of credietials and ability to pay. that it. " duk raha hai sir aur kut rahe he pet " - headache in the stomach ? why don't the authorities take to task these ' le bhagu banks " !!! first we invite trouble and then try to mend it by all possible ways and means.
RE:loans ....
by jailab eqbal on Apr 29, 2008 11:18 AM
a credit card regulatory authority will possibily the solution? loans given at a interest rate agreed to by the customer is charged at a very high credit card interest rate sometimes deliberately not sending the statements on time to make the customer "default" to charge the "late fees" and interest on the late fee
Everyone know the facts of 100 hr training nobody is doing training in cafe or else its all setting and paying few amts they will get the certificate and do what they want to do.
I think its a good step RBI shown to Banks after all its common man issue. Why there is no drastic change in other common issues: 1. Corruption 2. Education Standard 3. Population 4. Polution 5. Unsufficiant Food/Water 6. Poor public 7. Electricity 8. Infrastructure 9. Farmers Reform 10. Safety/Security
RE:Commercial
by SID Roopsingh on Apr 29, 2008 10:53 AM
Why dont you go to the Cooperative banks. They too are good compared to these private banks..Private banks are nothing but money lenders.. let them serve their corpoarate clients..
In the olden days we used to have Pathans with their typical headgear and armed with spear who were in the business of usurious money lending.They used to lend small amounts to the needy and will be spot on at the gate on the salary day to collect their interest.If you wanted to return the prinicipal they used to turn very sweet and persuade you to keep the money .They have disappeared as individuals we see their reincarnations in the corporate form in Citi bank , Amro and ICICI .The approach towards borrower is same
In the olden days we had Pathans , the usurious money lenders who will lend small amounts to the people in need at exorbitant rates and promptly wait at the gate on the salary day to collect their interest.When you wanted to return the principal they used to turn very sweet and persuade you to keep the money. They all disappeared suddenly and their place has been taken by Citi bank , Amro and ICICI
