Pl. note not only Banks who issue credit cards and give loans even mobile operators specifically reliance uses such tactics they employ these so called recovery agents better to say criminal elements .
Generate false bills and after that uses these criminals to extort that money .There agents pose as Lawyers & SHOs on phone and use abusive language ,misguide & threaten customers and even there relatives. Misbehave with women/children/old parents present at home . Question is why don't they follow legal process ? Why don't they send proper legal notices or reminders which they never send and there agents takes advantage of this they take cash using there receipt book and after that uses that amount for personal usage. On enquiring you get reply ' this is not our receipt see stamp is not there in corener ' or 'this one is the older format must be a stolen receipt book we can't do any thing ' ' why you paid cash or handed over mobile to them' you tell them to show records of reminders sent you will get nothings . suddenly after 2-3 years of handing over handsets you start getting calls from there agents ( I am so and so SHO warrant is there against you name contact this lawyer - lawyer will tell you pay before this hr. etc. after some time they start using abusive language)
This whole process clearly indicates criminal & fraud methodology usage goverment should take action against such operators and formulate law & policies so eliminate such practices Police
I have already written a message responding to the problem. This one is the pylosophical side. Our country had an earlier economic policy of encouraging savings and iducing people to live within the means. The credit card has changed all that. Here we are almost forcing people at all levels to spend lavishly. Naturally people are finding it difficult. Giving loan to buy a house is a good welfare measure. But if we do not ensure supply, then the basic need like housing gets into a price spiral. The other day I went for a property exhibition at BKC mumbai. There are no flats less than Rs 5000 per sqft in Mumbai suburban areas as farther as Kandivli, Mulund etc etc. In 30 years of life in Mumbai I have felt really harrassed with this kind of price spirals. In 1976, In Mulund the price of flat was Rs 70/90 per sqft. Today it is 5000 persft.Close to 75 times. A one BHK will cost Rs 30 to 35 lacs. An EMI of Rs 32000. At the age of 35 every one who wants to live in Mumbai has to earn Rs 65000 a month.The net result is Jhopdas all over. The economic differences are more alarming.The difference in salary between the CEO and entry level executive was Just 5times in 1976- Today it is 20000 for an entry level executive. And ceo is at 20 lacs a month almost 100times. I do not want to say anything about the position of working class.
World over One is employed for 8hrs work. Here even young ladies of 23 years are forced under threat to work 16 hrs and beyond.
All the card issuers including SBI do not have a proper system of informing the client well in advance the amount due with date. The statement mostly comes after the date and includes a handsome 3% interest charge. People like me who wants to use the card for convenience hate this interest charge. I have tried my best to convince the various marketing people to have a system of informing us in time by sms for payment due in full so that no interst charge will be incurred. Recently I subscribed to City bank Auto card co branded with Maruti suzuki. The marketing people agreed to sent SMS. I started using the card. In the second month itself I have received a statement with an interst charge inspite of receiving the SMS and paying the required amount much before date. The Interest charge of 3% should be immediately abolished. The cards should be issued only linked to any bank account. If the required amount is not paid on due date, the amount should be converted to a personal loan with normal personal loan interest for a period of 3 months. 3 months interest can be debited even if the amount is paid early. Various such acceptable ways are there where as no one is bothered about them. Out of 4 methods of inducing behavior- Sama, Dana, Bheda,danda- only method which will work these democratic countries will be only sama. Dana Can work in some places. The other 2 are illegal or will shortly be declared illegal. I will like to join as consultant for such initiative. tel 9967392222
If in order to make your life convenient we opt certain things relying on the fact that they are there to easy our life, this hold false. Earlier used to hear the wrong done of the banks, but now did when I fall pray in the hands of private bank, realizing it holds true. With out the consent they allocate you the policy start charging on it and after long discussions and shouts they realize the mistake and decided to cancel it but year after they realised that have not properly sucked the blood of the poor chap they start deducting the amount from the account.Did came the bank statement slip briefing you about you withdrawals for bread and butter,suddenly you eyes catch a huge figure telling you that you got to now queued up yourself onto the long sweet jingle telling you to keep patience as %u201Csabar ka phal metha hota hai%u201D.On the other end the courtesy which you receive tells you that nothing can be sweet then this piece of shit - to get consoled by the rhyming words. As if a magic wind blow and will take away issue related worry - you no way can determine when.Bank%u2019s should understand that in this war game to have maximum customer%u2019s in order to establish themselves as warriors it%u2019s not fair to use the common man as a tool.The brotherly relation between the banks is turning to be more brutal as the people at their end; themselves have no clarity about their terms and conditions. The service should be given such that it last its impression long.Sad to see and say that with the
If in order to make your life convenient we opt certain things relying on the fact that they are there to easy our life, this hold false. Earlier used to hear the wrong done of the banks, but now did when I fall pray in the hands of private bank, realizing it holds true. With out the consent they allocate you the policy start charging on it and after long discussions and shouts they realize the mistake and decided to cancel it but year after they realised that have not properly sucked the blood of the poor chap they start deducting the amount from the account. Did came the bank statement slip briefing you about you withdrawals for bread and butter, suddenly you eyes catch a huge figure telling you that you got to now queued up yourself onto the long sweet jingle telling you to keep patience as %u201Csabar ka phal metha hota hai%u201D.
On the other end the courtesy which you receive tells you that nothing can be sweet then this piece of shit - to get consoled by the rhyming words. As if a magic wind blow and will take away issue related worry - you no way can determine when.
Bank%u2019s should understand that in this war game to have maximum customer%u2019s in order to establish themselves as warriors it%u2019s not fair to use the common man as a tool.
The brotherly relation between the banks is turning to be more brutal as the people at their end; themselves have no clarity about their terms and conditions. The service should be given such that it last its impressi
Please don't buy anything from Rediff shopping, their service is very poor & most of the time (98% times) you receive a faulty/broken/old product. So beware of Rediff.com...
Hi, I have been using the loan products of various banks and i have been lucky to not have faced any problem by the bank (employees) so far. However, i would like to mention that the recovery agencies have a nexus, even after i have finished a personal loan with DCB bank, there agents keep calling me every alternate month stating some EMI is unpaid. when i ask them to come to me with a proof they never return the call. credit cards i would agree is a never ending pain. but why should the bank be only blamed, the customer took it on his choice, why didnt they think twice before making those expenses. the inetrest rates are high, may be govt can intervene to check the customer is not harrassed unnecessarily and a reasonable settlement is made, but that should not prevent the user from not making the payment of the rightful dues he owes to the bank. Every bank should fix standards of ethics of their recovery agencies and regular supervision over them
Such articles only influence people to commit default.Bank is not charging anything which is not predecided.Agents are not criminals.Criminals are the mind which commit delebarate default.Police taking cognizance of such matter is only a way to extort money from agencies .If action has to be taken ,it has to be taken with permission of court or a notice under 160,cr.p.c must be a pre-requisite with atleast 3 days time to file a reply, in case police taking cognizance of the issue.Second,complaint by agents or bank has to be taken by the same spirit.Law should provide more teath for recovery of funds by speedy trial.90 days time limit to decide a matter and special courts to entertain claims.An institution for recovery (other than police ) may also be constituted which takes care of the interest of bank as well as genuine concern of customers.Fraudulant cmustomers , customers defaulting with more than one financial institution should be sent to jail in absence of proper justification.BAnks and other financial institution may be charged for the constitution of such courts and agencies.But no law against defaulter and all evils against recovery process may ruin the financial growth.But how such laws can me implemented when the family of President is also under claud (as revealed by media)
the whole business of credit card is to cheat poor customers at a high interest rate. There are n rules and regulations. There has to be a special task force to look into the various issues. i have seen many times the way and method of these companies and i am convinced what is hapeening is not pro people. asheesh
Hi, this is in reference to all those people who give mental pressure to sincere people who actually are really helpless and cannot pay. There recovery agents have no right to disturb anyone physically or mentally. They have no right to take law in there own hands and threaten anyone as they are themselves have done some illegal things that why they would end up in this inferior work anyways. Bank should take civil action as people need to pay back.... but taking measures which are below the mark are really a disgrace to our society. If this were to happen in UK recovery agents would be the first to be landed behind bars. I would really request the banks to take civil measures as loss of life for Money is Just not worth it,,, and too from someone who themselves are a big menance to the society. With all due respect taking some ones peace of mind is the biggest crime let alone repaying some loan. I hoep this gets to people and they start living and behaving humane way.
