Perfect judgement and useful response. RBI is another rare institution which acts sensibly and with long time perspective.If bankers start distillery or manufacturing cars .... what will happen .... In an age of "core area consolidation" there is no scope for such ridiculous directions... while banks like icici & hdfc have made indian banks change, they are also nightmare as they suck out money from small retain investors/credit card holders. Let the corporates do what they know and not get into banking which has far reaching impact on the country's large population.
Re: corporates in banking
by bn yalamalli on Dec 24, 2010 11:34 AM
"Banks like icici & hdfc are nightmare as they suck out money from small retain investors/credit card holders".
This is a fact.The least charging Bank in India is SBI.Compared to SBI, the above two banks suck.
There is no check on this since these do not follow RBI Guidelines.How come?
Re: Re: corporates in banking
by Prem Mohan on Dec 24, 2010 11:45 AM
You are an educated person and to you the solution should be simple. Take your money to the Bank that offers the best value for your money. If you think it is SBI, so be it. Some people are willing to pay private banks a little more money for the service they offer.
Finally, HDFC and ICICI are hardly private banks. They have been promoted by large governmental organisations.
Re: Re: corporates in banking
by Krishna iyer on Dec 24, 2010 11:43 AM
While they follow RBI guidelines in gen they find ways of fleecing by putting conditions and making customers sign on agreement which are not approved by RBI.Unless the customers realise this and resist and complain to RBI nothing much will happen as these banks "buy" their way out
Re: Re: Re: corporates in banking
by Prem Mohan on Dec 24, 2010 11:46 AM
Take your business to SBI or any of the Public Sector Banks. If enough people do that, these banks will learn a lesson.
The concentration of wealth and political influence, will definitely all Industrial Boses to dictate terms to Government, as what is happening in US. The common Man will suffer.
Re: Banks Views are Correct
by Prem Mohan on Dec 24, 2010 11:52 AM
In the U.S., there are no such things as "industrial houses" -- families that run a diverse range of businesses. There are some large conglomerates, but these are entirely separate from the Banks or other financial institutions. And the suffering of the common man in the U.S, is nothing comapared to the suffering of the aam admi in India.
