If govt and opposition is going all out against Black money then They are some for bribe for getting business. Is it universally legal. I think then all charity done today is some kind of bribe paid in return for a service. What do you say about people teaching in schools, and companies and religious institutions starting and donating to schools, colleges, hospitals, home for ageds and orphanages? Corruption 2G scam is when people do charity at others expense, 3G scam when people do charity at others others expense. Hope the mobile phone companies dont do Charity on their own at unknowing subscribers expense. They start selling Heads Free mobile phones.
Biased and racist media has been of great concern in India. In recent months, various scams have unearthed which have exposed TV journalists in India lobbying government for corporates and hurling abuses at citizens and media watchdog folks who questioned their motives. We did a case study on one such journalist Sagarika Ghose who is also deputy editor of CNN-IBN, CNN's sister channel in india. Google Sagarika Ghose Case Study for complete study and its first link.
First ensure every Indian is issued with UIDcard. Then provide each and everyone with a bank card. Stop printing currency above Rs100; anyone who wants to carry large amounts, will have to use a sack.
All transactions have to be electronically done. There will, therefore, be a trail of money movement. Corruption can be reduced or eliminated. Tax evation will be difficult.
I don't know when they are going to release single card to replace debit card and credit card(as per rediff). But I already have it since last six months so don't know how old this report is...
Near Field Communication a technology to communicate with payment devices which is at this time already integrated in the Google Nexus S phone and rumored to appear in the future generation of the iPhone. I think you missed to point this out in your very comprehensive article. (pun intended)
I have been extensively using a Platinum credit card of ICICI Bank for last few years paying them lot of money every month on or before the due date with not a single instance of late payment in the last 6 years !
But what I have observed that they do not intimate certain important things. For example I use the card for buying fuel and used to get the surcharge waived off. But recently I noticed that the surcharge is not waived off. When I called up the call centre they told that the benefit has been limited to only HP petrol pumps with ICICI swipe machines !! But I was not intimated about this by letter, sms or email ( I had all the options)though they said that they sent the same by post.
Again they do not intimate about the beneficial offers like EMI facilities etc rather they are more interested in telling about card/ health insurance etc.
What I want to say is that card companies should have offers like EMI at low interest round the year to customers who use the card regularly and are very clean at payments.
Re: Banks do not provide vital information
by manoj deshmukh on Feb 17, 2011 10:24 PM
ICICI has stop it now such things now, ppl have good option to select. They only do aggressive marketing and ppl gets trapd.
Re: Re: Banks do not provide vital information
by rohit rath on Feb 18, 2011 01:33 AM
@ manoj, everybody do aggressive marketing,that is not a reason to criticize,mobile companies do,auto companies do,supermarkets do,all do it.Henceforth,financial sector entities are doing too.If people get trapped ,its people fault not entities,people are very lazy in india to read or do anything,they dnt like to read tv,fridge,gadgets manual,they dnt like to read terms n conditions,they dnt like to read conditions behind the receipts they get from shops/showrooms.They dnt go through anything related to any other sector,laws or area.Then u dont have any right to cry loud " i am trapped"
Re: Re: Re: Banks do not provide vital information
by sameer on Feb 18, 2011 07:51 AM
can you name me a country, whose people read all that. if you are not aware then let me tell there are call centers in many countries to operate washing machines.
Re: Banks do not provide vital information
by Vikram Raj on Feb 18, 2011 11:56 AM
you should have read the terms and services that came along with your credit card.
Re: Banks do not provide vital information
by rohit rath on Feb 18, 2011 01:29 AM
that is why it is important as a customer to constantly visit bank's website,keep reading new offers,read terms conditions frequently,many a time card companies sent you offers via courier or postal,collect and read them ,essentially give ur correct address in case of change. Every time u can't bank to intimate for every small thing as lots of costs involved,for same reason,they have launched websites or sms alerts. and coming to EMI at low intest rates is just suicidal,only in very exceptional cases it can be given,as these loans or money given would not be backed by securities and hard to recover,so banks are reluctant. and every card company has exclusive tie up with specific set of retail stores,vendors,showrooms,so you need to visit there frequently to accumulate more reward points.
