It is the financial institution be it icici, hdfc, Abn amro, or any other bank who go one step ahead of all the schedule bank to give personal loans. these organisations should keep in mind the repaying capacity of the person taing loan. as rightly said by many in this column the big borrowers in crores get away by using influence. only the small ones get caught and are squeezed. My sugeestions to the financial institutions are :
Never give loan to satisfy your numbers. Even if given it should be against some mortgage so thst the recovery process becomes simple. Please appraoch the local police station for help and approach the person taking loan so that the seriousness of repayment is understood. if none of this work send a legal notice. If you feel this is going to take ages to settle, stop issuing Personal loan atleast.
with this both the banker and the individual can breath easy.. ... ....
