Why give loan if the bank doesn%u2019t have the capacity to take it back... Shame on the bank!!! Do proper back ground checks before processing and approving a loan. Using mafias in the name of recovery is pure cowardiness and illiterate manner of approach... it will only tarnish the brand name that took years to build .
1)The money spent on credit card should never be more than money that you have in your saving account. 2) Always suscribe for e-statement to avoid loss of bill etc. 3) Pay the credit card bill immediatey after receiving bill ( dont wait for last due date) 4) Never take any cash or demand draft on credit card. 5) Always check your credit cards online - so that if any unexpected charges are there , you can see it immediately. 6) Never use EMI scheme of the credit cards 7) Most imp - don't run behind hi-tech electronics goods ( mobiles, music players, etc) Avoid buying such goods on credit cards - buy it on debit card
If you take care of these - you will be almost trouble free
These Banks charge heavy interest on loans and like services, and what they do with this money, they employe even Gundas to recover loans and pay huge sums to these kind of Gundas. what an irony..... the same amount or may be less, they can give as discounts to the helpless customers. In this country if these banks are not becomeing more considerative to potential cutomers, it is very difficult for our country. Dubai, Singapore, Hong Kong... like countries developed, people did small small business and improved only through Banks help, .... not through "BANKS DADAGIRI"
sir why it is said that only gundas are doing this work.So many qualified people are working in line of collections.They not only get training from BANK(ICICI etc) ;but also are regulated through certain regulations/principles which thay follow during field.On contrary wilfull people/defaulter with such a huge media support now takes stand that they will make false complaint about the behaviour of recovery executive ;hence he should not visit/remind about due payment.Economy with such a huge NPAs will suffer and hence simoultaneously media should also support BANKS by publishing /bringing /upfronting willful defaulters who has taken loan and now do not wish to repay.Remember this is a public deposit money henceforth should be safeguard at any cost.However I do support strict action against agents who unnecessary harrase borrower without giving them proper chance to repay.But once it is proved that borrower wants to eatup the loan ;he should be parallely penalised/punished.
RE:WILLFUL DEFAULTERS SHOULD NOT GET MEDIA SHULTER
by shatadip som on Oct 15, 2007 05:29 PM Permalink
The banks should do proper background checks before giving loans.
They bug people for taking loans, saying "sir there are easy installments options" and bore them ultil they do not take the loan.
A person should be given a loan only if he is interested and it is the customer who should approach the bank, not vice versa!!
Then they make life difficult for him and some of them even commit suicide!!
I had taken a personal loan for 20 thousand rupees from some bank that I would not disclose. I purposefully did not pay the EMI so that I get hold of the recovery agents. I have a lot of contacts with goondas with my cousin being a MLA. I was waiting for the day to come and it did not take long before I was faced with 2 recovery agents. Without having a proper knowledge of my back ground , those two started abusing me. Then I started my own show and I called my friends in half an hour , who took good care of them. What followed was absolute comedy. The bank officials came on line and started asking me for the money in th way it should be. All thier requests had a common word 'Sir'. I payed back the loan and with a wish to see those recover agents again. Hope u kids had the courage and means to do the same.
RE:How to get rid of this menace.
by Nitin Dutt on Oct 15, 2007 05:24 PM Permalink
Mr. varun,
Your story is too true to be beilivable. First off all Banks do not send recovery agents immediateli Initially you shud have got the numerous phone calls etc, Then are you telling us that those goons waited for half an hour fro your goons to arrive. Even if your cousing is n MLA, it does'nt make a difference bcos these days brothers kill brothers. and ofcourse MLA;s are worst peiple then these recovery agents atleast agents are working with sincerity to get their job done by snathing moey from idiots like you who do not want to return it.
RE:How to get rid of this menace.
by PowerOfTruth on Oct 15, 2007 05:19 PM Permalink
this is looking like a fake story but still good way of handling. I suggest you to form/run a anti-collection group who would handle such situations.. ofcourse you can charge some %.
RE:How to get rid of this menace.
by shovon dasgupta on Oct 15, 2007 05:47 PM Permalink
most of the people cannot use this technique since they are common men and do not have the influence like you.
I was an unfortunate customer of SBI Credit card. They lured me into a trap called Cash on Call and said that i was one of the few prestigeous customers chosen for this privilage.It was supposed to be for 36EMI's. Finally SBI cheated me and i ended up paying Rs.80,000 not able to withstand the harassment meted out to me and my family.Inspite of me visiting their Regional Office in Chennai and writing to their Customer Care serveral times for which i have not received a single responsible answer till date. The goondas had actually manhandled my wife and father in my absence.My wife's magalasutra was pulled by one of the goondas who had visited my house.This started an arguement between my father and the goondas which ended up in my father being brutally beaten. Hope atleast noe the RBI and government will take appropriate action on these goondas.
RE:Harassement
by Sibsankar Bhattacharya on Oct 15, 2007 05:06 PM Permalink
Now Mr. Gurudas Dasgupta, Mr. Prakash Karat & other commrades should reply! This is with all Public Sector Banks! Next election, Mr. Karat & Mr. Bardhan should get a befitting reply!
I work in Middle East in Financial Services. Do you know which Nationality is preferred here by the banks to give loans and credit cards???? Indians. Most of Indians pay back money and shows more responsibility!
But in our country Banks are acting absolute criminal! They must stop it!
RE:Indians are preferred customers in Middle East Banks!
by joseph varghese on Oct 15, 2007 05:29 PM Permalink
Yes you are right, most od the indians wants to pay back, but these huge - horrible interests eating up their every thing, then slowly ... slowely they end up pennyless and default the repayment.... ; Then these banks use GUNDAS to recover the little left balance, for that these banks will spent many times more money for GUNDAS. THIS MUST STOP..... NEED STRICT ACTION AGAINST THEM.
yes govt should take some action as recovery agencies appoint tapori and muslim guy only so that innocent people who are not able to pay will be feared of this guys.
