This story is good like a Bollywood movie, but the end of the day you should get reputation from Customers. Icici is not just an Bank / Financial institution.... they are "Professional Robbers..." you shoulpd learn from them, how to cheat others in most executive way..!!! there are many ppl who faced problem from ICICI for the sake of having A/c.
Please type "ICICI sucks" in Google, you will get to know what is ICICI up to..!!!
My kind advice to all my friends, please dont ever go for ICICI either Bank A/c / Credit Card / Demat / Online trade..!!
RE:ICICI Sucks..!!!
by Valerie Fernandes on Jun 12, 2007 11:45 AM Permalink
I agree with you 100%. I have not had to opportunity to log on to Google, but there is no doubt that ICICI headed by Mr Kamat are cheats. They robbed my sister of her original home documents, never bothered to reply to upteen number of correspondence address to Kamat himself, when the matter came up in Court they had the cheek to deny having recd the documents .... I understand there have lost around 20 sets of customers' original property documents submitted at "Ashiyana" Thane and are plain cheating the customers to continue to pay EMIs without hope of receiving the original documents at the end of the day. When you stop paying EMI they take you to Court u/s 138 and when you challenge them they do not file their affidavit even months after their suing you. They just harras the customers. I would advise anyone not to trust their life's investment in this Bank. Sooner or later the truth will come out and this Bank is sure to fall big time.
RE:ICICI Sucks..!!!
by virender kataria on Jun 12, 2007 08:43 PM Permalink
I am in agreement, they don't recoganize the hard work of the people put in for the bank .............and take decisions based on their so called " larger interest policy"
Empolyee are leaving them like anything and their are people who are not ready to join
RBI raps UCO Bank for below par NPAs 2007-06-07 19:08:48 Source : Moneycontrol.com Email Print Version Watch Video The Reserve Bank of India, or RBI, says in a confidential inspection report that Kolkata-based UCO Bank has been routinely providing less funds towards NPAs than it should have. And, the difference between the actual provisions made by the bank and RBI's recommendations is huge, reports CNBC-TV18. In a confidential inspection report published in November last year, the apex bank has made some scathing remarks about UCO Bank's credit appraisal and supervision systems. Based on a review of 44 stressed assets, the RBI concludes that the bank should have provided Rs 44.6 crore more towards these NPAs in its balance sheet for the financial year 2005-06. The bank had provided Rs 21.59 crore towards these assets, whereas the apex bank recommends the provision should have been to the tune of Rs 66.19 crore! Even for the financial year 2004-05, according to the RBI, UCO Bank should have provided Rs 66 crore more towards 48 NPA accounts that were reviewed. The 2006 report reveals that the bank had not provided 100% even towards loans that had been classified as frauds. The RBI observes, "Delay was observed in the detection of fraud; some cases were being detected with a gap of one to three years. Delay in reporting to RBI was also observed in fraud cases." On restructuring of stressed assets, the RBI says, "The study of viability and funds flow s
They give loans to people who have a address proof. As long as ecomony is good they can extract from customers. Once economy starts to shrink, they will default and ICICI will burst.
well done mr.kamath. we mangaloreans are proud of your achievement. you are definetely a star amongst many other mangaloreans achievers like aishwarya rai, shilpa shetty, vandana rao and many others. may God bless you.
RE:k v kamath
by vinay rao on Jun 12, 2007 12:26 PM Permalink
Yes Jyothi, you are right. Mangaloreans have created a niche in the Banking sector. Most of the nationalised banks and other banks (ex: Canara Bank, Syndicate Bank, Vijaya Bank, Karnataka Bank) are founded by the Mangaloreans.
RE:k v kamath
by CVG prasad on Jun 12, 2007 05:29 PM Permalink
Vinay, u missed corporation bank & many non-banking financial institutions like manipal group.
i am a custmer located in SMALL TOWN Called nipani in karnataka and with MV KAMAT technology i am investing in EQUITY/MUTUAL FUND/ONLINE TRANSFER MONEY/INSURENCE/ POSATL SCHEMES / RBI BONDS so on WHICH OTHER BANK CAN GIVE ME SUCH BENEFIT ???
Congratulations on the excellent article.Indeed, it was the first bank in India to use ICT for fuelling its phenomenal growth.As the President & MD of Hughes Escorts Communications Ltd.,I was personally involved with their VP for Information Technology,Mr. Prabhu way back in 1995, to help them set up their ATMs with VSAT connectivity & also connect all their branches. But for Mr.Kamath's vision in leveraging technology, the bank would have been a mediocre one like so many we have in India. I have been a customer of the Bank for the last 10 years or so, & I only have praise for their efficiency & courtesy.
Your articles has forgotten to mention the following initiatives by ICICI which also contributed to its great success:
a) They contacted Corporates, and solicited for opening of salary accounts for their employees. This initiative has given ICICI thousands of salary accounts(Savings a/cs)
b) They have improved the speed of processing loan applications like Vehicle loan, Housing loan etc. as aginst other Banks which insisted on lot of documentation, and cumbersome procedures. Therefore people in large numbers turned to ICICI for its speedy processing of such loans.
I am sure these steps have also contributed to ICICIs great success.
RE:ICICI's success
by Anup Nalamwar on Jun 18, 2007 12:37 AM Permalink
Do agree. It's the speed of processing which attracted the customers to ICICI for loan accounts as they were fed up with other banks. But at that time, these customers had not had taste of ICICI's bad after service. Now today you ask any ICICI hoam loan customer, he/she will advise you to go other bank.
RE:ICICI's success
by on Jun 29, 2007 05:06 PM Permalink
Yes they solicited and literally begged for salary accounts. Offered incentives like zero balance accounts for temporary employees. But that was when they needed us. Now they are ordering us to close the "small sum large volume" accounts in which relatively smaller sums of money like a few thousand rupees is deposited through salary and withdrawn in several batches. Now they want only high net worth accounts! To hell with small account holders. They are a nuisance the bank can do without. When convenient, they used these accounts to boost their numbers and now "Get Lost"!
I see a lot of heart burning. ICICI may be short on lot of services.
I have been the customer for the last many years. Some benefits:
a. Your account is opened within 1 hour and given cheque book, debit card etc. Tell me a nationalised bank that can give you this service.
b. I handle all the payments through internet banking. I have colleagues who have operations with another bank. With the given password they are not able to login to their account!!
c. The ATM's are up almost all the time. I had account with SBI and most of the time I had to go to 2 or 3 ATM's to draw the amount for various reasons.
d. I also short closed a loan with ICICI and went to SBI, where the rate of interest is lower.
ICICI has set standards for other banks to emulate. I have relatives working in other banks going home at 9 PM. The reason given is updating all transactions centrally, while ICICI gives you an 8 to 8 banking.
