3. Another leading foreign bank - I had applied for a personal loan. A verification call came and they claimed that I already had a loan from the bank while truth is that it was the first time I was even interacting with the bank. I was so annoyed at this that I decided never to use this bank's services and I have adhered to the decision. 4. Another leading foreign bank - I had applied for a credit card. The verification call came. I was asked about my salary account. I said it was in 'XXXXX' bank for 2.5 years. I was asked about my tenure at the present company. I said 6 months. The girl was extremely surprised and my card never reached. Now, who is going to explain to this idiot girl that I had been working with other companies before this and that one of them opened a salary account for me 2.5 years ago. Sadly, I now have an account in this bank. . What I am pointing out is that for simple banking, they are fine but when it comes to credit rating, these banks do not understand anything. Also, I should know what credit rating has been given to me. . I don't know if this is done but I feel it is better if banks simply upload data and let the central reserve decide ratings.
While this is indeed great, there is also needed a system that rates the banks on the basis of THEIR acts. I have the following instances to relate: 1. A leading foreign bank - Bad security measures with credit card. Also, when I submitted the card for cancellation at their branch, they refused to hand me a receipt or any form of acknowledgement. Several days later, when i asked for the status of cancellation, they denied having received any such request. It took a lot of convincing before I received their cancellation confirmation after many days again. 2. Another leading foreign bank - I used their credit card for a year (free period). Their annual charges were the highest in the market and they gave me a credit limit less than my salary (I had changed a job and, therefore, had a good salary increase). So, when the year ended, I submitted the card for cancellation. Again, several days later, on asking for confirmation, they said they hadn't received any such request. They subsequently cancelled the card but I still haven't got the written confirmation for it. It's over six months.
