It is a great move by Bank of India. I appreciate that and I am confident this is going to flood the non profit organization with lot and lot of people who are already undergoing hell lot of grevience with regard to thier unmanaged fund management and other spending due to the luring offers and facilities. I also would utilise this oppoutuntity to request the concerned authorities to take up the matter with the Credit card department of all the banks to make the Clauses simple and minimise the penalties and important of all make the statment more transparent and clear in clarifying the details of the interest commision etc in "3 or 4 rows" ( like SB A/C statment of banks ) instead of the present format of "single row". This is make the customer really understand the credit debit status of his card more effectively unlike in the present situation and this itself will help to bring down the defautlers at the initial stage itself to a very good extent. Wish u all the best for the successful continuance of this genuine efforts.
RE:Assistance for debt trapped peersons
by Mohd Akbar on Mar 25, 2007 10:00 PM Permalink
credit cards of virtually all the banks are the most deceiving instrument. the banks debit the account very heavily and do not send the particulars despite follow up. the points raised are not answered properly instead the claim for their excess demand continues, without giving reasons. i therefore prefer to call the crcds Shylock - the Jew of the Merchant of Venice, the well known drama of Shakespeare -- who prefers to have a pound of flesh, if the amount claim by him is not paid. The Credit Cards of the Banks are claiming the Pound of Flesh. Anton's argument not to drop blood - carries no meaning to these darcs!!!
