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Old 13th February 2007, 13:36   #166
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@muni... i dont think there is much you can do now since the sanction of the loan is entirely in their hands & they can simply refuse to sanction it. Why dont you try another bank ?

It would be credited today they say and the problem is that i have to aproach another bank and furnish the same set of documents and they will take another week or so at the minimum. If i had known that ICICI would take so long in the first place i would not have gone for this Bank at all. All this while for the last 10 days i have been getting replies that they would do it in 1 or 2 days and has dragged on till today.

Anyway i have signed those security cheques last saturday and hopefully they credit my acct by today EOD (End of Day).



Sometimes you have to endure injustice when time is not by your side.
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Old 14th February 2007, 10:39   #167
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All of you who have issues with Banks/Insurance companies can send the details to Sucheta Dalal @ SuchetaDalal.com.

Sucheta Dalal is a financial journalist who was instrumental in exposing the Harshad Mehta stock scam. Her articles are published in all the mainstream newspapers and she also highlights the shady business practices of Banks/Insurance companies in her articles.
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Old 14th February 2007, 11:53   #168
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go to rbi webiste Reserve Bank of India - India's Central Bank follow the link to for banking customers abd go to banking ombudsmen page
here are some links
http://rbidocs.rbi.org.in/rdocs/Content/PDFs/67933.pdf

Reserve Bank of India


there is form for complaining about banks to rbi.
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Old 14th February 2007, 16:19   #169
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Great review for us although not so great experience for you and I hope no one ever has to go through this. My dad says that however right u may be in an accident no ones right as it serves as an opportunity for many others to run their livelihood.
The police is terrible and I just think what a commmon man with limited means would have gone through,
You had atleast the courtesy to pay the driver nad passangers bill when you were not required too

I would like to know wether the driver or the passangers thanked yopu atleast

What about the case was it resolved by a traditional mandavli where the officers benefits
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Old 14th February 2007, 17:05   #170
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I would like to know wether the driver or the passangers thanked yopu atleast
Nothing from the driver, and the thanks I got from the passenger was a request of a ridiculous sum of money to drop the case!!

Needless to say the case is still on. Every 3-5 months I show my face in court only for them to give me another date 4 months down the line. No-one from the other side shows up.

Oh yea, a string of mysterious witnesses have appeared suddenly. This, my lawyer tells me is normal. The cops simply get the slum dwellers nearby to sign the report they prepare, and they are paid a sum of money to appear in court.

Nice system we have going here! I'll keep this thread alive once something concrete happens.
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Old 14th February 2007, 18:10   #171
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Exclamation Horrible experiance!!

This is the most worst "auto" story I've ever came across!! Wonder what a layman will do on such situations in our country!! Exploitation is on the highest rate here now!!I've a request to the mods.... (1) Make this thread sticky, so that every one visits the forum will atleast see or read the incident. Atleast those who will read the incident will stay off from ICICI.(2) Why don't you guys think of devoloping a 'machinery' to authentically blacklist such defaulters for the betterment of members?!!( of course, after verifying the truth) Let'em be bankers, shops, dealers, service centres, products, brands etc etc.. It will be highly beneficial to the 'layman bhp-ians'!mods, Please see the possibilities!
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Old 14th February 2007, 22:10   #172
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Nothing from the driver, and the thanks I got from the passenger was a request of a ridiculous sum of money to drop the case!!

Needless to say the case is still on. Every 3-5 months I show my face in court only for them to give me another date 4 months down the line. No-one from the other side shows up.

Oh yea, a string of mysterious witnesses have appeared suddenly. This, my lawyer tells me is normal. The cops simply get the slum dwellers nearby to sign the report they prepare, and they are paid a sum of money to appear in court.

Nice system we have going here! I'll keep this thread alive once something concrete happens.
Wow man..now i am really worried!!!
Neways were you able to get this into newspapers.I would really like to see that happen.
Times Of India would be salivating to have this kind of story in their papers.
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Old 15th February 2007, 01:29   #173
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Wow man..now i am really worried!!!
Neways were you able to get this into newspapers.I would really like to see that happen.
Times Of India would be salivating to have this kind of story in their papers.
It looks like everyone should carry a video camera all the time and record everything that goes on in the police station and elsewhere in such situations. It would also be great to record witnesses then and there, so there will be no confusion or bribing later. This whole thing is terrible though.
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Old 16th February 2007, 00:49   #174
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I have tried many different insurance companies in the past few years ICICI Lombard, Bajaj Alliance, TATA AIG and recently MS Cholamandalam. I have had very bad experience with TATA AIG, they cheat customers just like what ICICI did to Rtech. But it is just opposite with MS-Chola, they are very honest and ethical people. My car met with a major accident recently and the claim amount was close to Rs. 1 lakh. I just took my car to the dealer and I got it back in just 5 days. There was no necessity for me to run-around to get the claim sanctioned, not even a single phone call.

So give them a chance when you renew you car insurance next time. Lets support companies that do business in a ethical way.

- Novice.
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Old 16th February 2007, 01:54   #175
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Very bad experience man..i can feel it..the frustration,mental agony,..

when i was abt to sign a deal for my new car. Dealer suggested me to choose ICICI insurance as they will settle any claims quickly being a private firm. LOL. I did not opt for it. I opted for New india assurance(Govt insurance). Even the premium for ICICI is 2k compared to New india assurance,Tata AIG, and Reliance.
Not sure on what basis they command such high amount.

Even for car loan,i opted for tata finance over ICICI as icici is adamant in reducing the interest rate even if they loose the customers.

Sometimes 2nd best is always a better option.
HDFC is much better.

Waiting for this thing to be published in newspapers soon.
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Old 16th February 2007, 18:45   #176
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Default ICICI - never go anywhere near them

I tried a car loan with them, only asked for 1.5 lakhs loan for my Bolero which was costing 6.7 lakhs. The guys sanctioned my loan and came up with all documents I have to sign. I had to sign at nearly 40 places which clearly says the vehicle is not mine, it is theirs even though they are paying me only 1.5 lakhs. The next thing they asked me to sign the cheque for 1.8 lakhs including interest. I did that also, now the next surprise, sign ECS for another 1.8 lakhs. So for a loan of 1.5 lakhs, I have to sign for 3.6 lakhs by way of post dated cheques and ECS. And the guy tells me that once all ECS is cleared, they will give me back all the post dated cheques. They will not use it. I have seen this forum earlier on ICICI's gimmicks and asked the agent to f*** off. I could get the loan from Federal bank within the next 24 hrs without any hastle. I see our good old banks are any day better than all these new ones which are out there to rip you off. Keep away from them
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Old 20th February 2007, 11:07   #177
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I have the experience of both kind of banks. And if my personal experience is any guide, SBI service is absolutely world class and customer friendly. Of course it helped that the SBI branch was in a small place and my wife knew the bank officials. The Bank staff went out of their way and worked overtime to sanction the car loan. later, they exceeded themselves in processing for taking over my home loan from ICICI. In fact they worked till about 9 PM at night, well past their working hours. Can any private bank in India give you this kind of personalised service ? Not a chance.
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Old 20th February 2007, 11:48   #178
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Really ? very surprising. A sea of change in their attitudes since the last time i banked with them (nationalised banks). They used to frown at you for making deposits & withdrawals & look at you like you were a scoundrel & a cheat if you ask them for a cheque book.
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Old 20th February 2007, 11:58   #179
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I have the experience of both kind of banks. And if my personal experience is any guide, SBI service is absolutely world class and customer friendly. Of course it helped that the SBI branch was in a small place and my wife knew the bank officials. The Bank staff went out of their way and worked overtime to sanction the car loan. later, they exceeded themselves in processing for taking over my home loan from ICICI. In fact they worked till about 9 PM at night, well past their working hours. Can any private bank in India give you this kind of personalised service ? Not a chance.
I agree with you.

We do have a unofficial corporate tie up with SBI. Personal loans at discounted rates (though very marginal) were offered within a day from the date of submission of incomplete application form. Exceptional service from the Branch Manager.

He was moved to a different branch & the current manager is putting his efforts to maintain the same relationship
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Old 20th February 2007, 12:01   #180
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Originally Posted by esteem_lover View Post
Really ? very surprising. A sea of change in their attitudes since the last time i banked with them (nationalised banks). They used to frown at you for making deposits & withdrawals & look at you like you were a scoundrel & a cheat if you ask them for a cheque book.
I too have a car loan from SBI and their approach and service is fantastic to say the least. Senior bank officials meet you in your office like a regular sales guy to explain and take your forms ( doorstep service) and when your loan is getting disbursed, the speed at which they do is unbeilevable.

There is no haggling in their rates as its set by the RBI and they stick to it. I took the loan at Rs.2100/Lakh for a 5 year term, Some other benefits are :

a) You can close the loan in 6 months with NO PRE-CLOSURE CHARGES
b) They have a day diminishing loan. Meaning you pay interest on amounts calculated on daily diminishing. All other banks have monthly diminishing. Trust me, it makes a hell of a difference
c) No Advance EMI's. IMHO, one single advance EMI is equivalent to an increase in 0.75% interest overall. Correct me, if i am wrong

So lets say a big 'NO' to these privatised banks and stick to nationalised banks whose attitude has changed tremendously and their services are no less than any privatised banks
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