These foreign banks in India like Citibank, HSBC or Indian banks HDFC, ICICI are managed by Indians and here the problem lies because of their narrow mindedness. First they force you to take credit cards with spending limits far more than ones repaying capacity and after the customer defaults they use all arm twisting techniques to recover the money and finally after the settlement has been done they report bad credit history to CIBIL or whatever it may be, in my case it was a software named Satyam. Once your name appears there you are hold on ransom of the banks and other banks will not give you loans and the banks which reported your credit history will ask for exorbitant sum to withdraw your name from defaulter's list. One of the most pathetic and biased way to maitain credit history. Sometimes I feel private money lenders are far better as they have some principles in business
