I took loan frpm ICICI Bank.I paid cheque but even cheque was cashed but ICICI bank sent recovery agents/goondas to my house to recover the money. I told and shown them but ICICI was not ready to listen. When goondas came thrice and I was told by bank to show the bank letter for payment, I took certificate from bank and submitted them. Even then they were not ready to waive off interest they put earliar considering my payment not received. When I tried to contact Mr. Kamath MD of ICICI Bank then I was called at Bank and with great discussions matter was settled. I was so haressed that I paid full loan amount on same day and closed the account. Bank officials & recovery agents should be hanged if they wrongly disturb public and they should be penalised.
This movement is going to support defaluters - people take loan - dont repay - people use phone - dont pay bills - I remember one insidance - one MBA girl staying in adjcent flat - purchased goods worth 75000 and left the job after that. She didnt pay credit card bill.
Now police arresting agents will nothing but support the attitude of people to take loan and not to pay. If agents dont recover money - banks will start pulling people in courts and which will be more expensive for the people who take loan and dont repay.
RE:This is supporting to defaulters
by praveen goutham on Oct 15, 2007 05:22 PM Permalink
Dear Shekhar Please know that all banks check the credibility of the person to whom they are issuing the loan or credit card.Many a times the bank themselves are to be blamed because they give a loan/credit card to a person simply to reach their sales targets.I have known instances where a person after repayment of 95% of existing loan , more money was put in bank without his consent and later gets a letter saying that his loan amount has been increased.
I am the Managing Director of a pvt. detective agency,these recovery agentsshould be treated TIT FOR TAT,they try their tricks if the person bows down to their pressure tactics,otherwise vice versa,person should give them back,and the said bank hould be penalised HEAVILY. by.D.Kumar,SECRET EYE DETECTIVE SERVICES.MUMBAI.email;info@secreteyedetective.com
RE:BANK RECOVERY AGENTS
by praveen goutham on Oct 15, 2007 05:15 PM Permalink
Yes I wish that really possible.One of my friend faced hell for 3 months by these Goondas for a payment which he had already made.ICICI bank did not bother about the repeated mails and phones which he made .Once he left his home and family for over a week unable to bear the torture.Even the police took a casual approach . Can private detective firms help such people??
ABN AMRO once did this to me. One fine day some goons turned up at my house and asked me to pay installments which I had already paid. The guy connected me to his manager and I had a nice chat with him. He paitently explained to me that they were "Recovery Agents" and not criminals. Bullshit.
I wonder whose idea was it to hire criminals and send them to collect money. And how do they get approved by the comapany in the first place. Do they care anything about the Law of the country. I guess when IIM's teach the bright management graduates, they forget to tell them that the law has to be respected first. Forget about the colleges. I guess even their parents missed telling them this. The one's who hire the goons are as much of a criminal. I hope someone drags these guys to the court and make them pay for such policies.
So much for the resurgent corporate India. Its run by criminals.
RE:BANKS SHOULD GIVE LOAN ON LESS INTEREST RATES TO BE ABLE TO BE PAID BACK
by Nilesh Kulkarni on Oct 15, 2007 04:53 PM Permalink
bank tera baap ka hai kya?
RE:BANKS SHOULD GIVE LOAN ON LESS INTEREST RATES TO BE ABLE TO BE PAID BACK
by Shekhar C on Oct 15, 2007 04:57 PM Permalink
forget profitability - bank should at least get the money back which they have given to customers
I took a home loan and did set up an auto debit from my salary account in order to pay every month on the right date. ICICI Bank repeatedly failed to take the money from the my salary account and sent letters from the recovery agencies and once I recd a registered letter from the some solicitor also. It created havoc tension in my parents in India. I spent lot money and time to allay their fear as well as called some no provided in the letter to give a piece of my mind and asked those shameless guys to look into their own back first. Unfortunately these bunch of guys are not having that gray matter to understand. ICICI Bank also has been intimated in the past at their branch in Mumbai and Kolkata.
Shameless ICICI guys sometimes auto debit two EMI's at the same month with out even my authorization and charged me some interest on non-payment!!!
Can anyone advise me how to deal with the last one? Should I go to consumers' forum? Thx
RE:Loan recovery machine: Shame on ICICI Bank
by Shekhar C on Oct 15, 2007 04:59 PM Permalink
First thing it should not happen - if they charge 2 EMI at a time from your account you can raise complaint to RBI - when you sign autodebit form it is clearly written the amount and date on which it should be debited. any amount bank takes other than this should be informed to RBI
RE:Loan recovery machine: Shame on ICICI Bank
by cadambi sheshadri on Oct 15, 2007 04:54 PM Permalink
Yes you can since the forum is for people like us.Any bank which voilates the norms can be made to bend in this forum provided we have all the evidences to prove. The banks deserve this since the employees have thir own way of recovering and adding the invisible expenses to the already bloated account.
RE:Loan recovery machine: Shame on ICICI Bank
by S Thomas on Oct 15, 2007 05:03 PM Permalink
I had also faced the same proble with ICICI. I had a credit Card of ICICI and some out-standing on the same card, which I had settled in EMI. They submited few cheques on-time and after that they didn't presented the cheque for 2 months. Later I got a call from ICICI and told me that they lost my cheques and asked to replace last 4 cheques. I replaced 1 cheque instead of 4. Later they presented 3 cheques at-once and 1 cheque bounced due to insufficient fund. Now who should be blamed ?
