I think this is a highly misleading article. No one can charge 1,849.23 Rs interest on 1 rupee. This is a serious mistake. I request rediff to verify the facts.
RE:Misleading
by Amarjeet Yadav on Jul 17, 2007 05:06 PM Permalink
Dear Freind , This is not highly misleading ,This big mistake by bank , If anybody require facts , can check her/his credit card statment.
RE:RE:Misleading
by vipin bihari mehrotra on Jul 17, 2007 05:06 PM Permalink
What is written is absoluely correct. In fact only SBI executive warned in advance to be careful i this respect
RE:Misleading
by siva kumar on Jul 17, 2007 04:56 PM Permalink
What the author has written is absolutely correct. Read it thorougly once again. The interest was not charged on one rupee, but on the outstanding of 30,009 and the purchase of 37,000. Since the card holder has not cleared the entire due the interest was charged on the total outstanding plus the new purchases made. The Re 1 may make an interesting case study - but actually if you talk to the bank they can waive the interest paid. They have discretion to waive the same.
RE:Misleading
by Mayank Sharma on Jul 17, 2007 04:59 PM Permalink
interest was charged on purchases made of some white goods of Rs.37000 Interest was charged on transections of previous months too.
