ICICI Bank fined Rs 50 lakh for hiring 'goons'

[diabloo]

May be due to this, Now, women recovery agents to make defaulters pay up- Banking-Banking/ Finance -News By Industry-News-The Economic Times

Vasuli joint managing director, Manju Bhatia, told TOI that the women recovery agents, comprising 80% of the Vasuli staff, have demolished the notion that recovery agents must be men with muscle power to coerce defaulters.

"Our principle is persuasion is better than prosecution. We make defaulters understand the problems they may face if they don't pay," Manju said.

"Defaulters, who are generally men, find it embarrassing to be addressed by a woman and hasten to pay up large parts of the loan," she said, adding, "Those who find it easy to bribe male recovery agents realize that they can't do the same with women."

[GTO]

Screaming nagging women are tougher negotiators than muscular / aggressive men

[CaAT]

OT, but read in newspaper today that Citibank has slapped a Rs 2.79 Cr bill on a 68 year old for failing to pay up Rs 50,000.00 that he owed for his purchases in 1995!

[NetfreakBombay]

I had citibank card around that time, interest was 3 or 3.5%

And that (50k->2.8 Cr) is to be expected with cumulative interest of 3 % + Late free of 300 every month + 10% service tax on interest + collection fees in between.

If this fact is true (that customer did the transaction and did not pay in time) then
customer is at fault, not the bank.

[suvi]

Pl address your concerns with The Banking Ombudsman c/o Reserve Bank of India.
i once had a problem with my credit card (merchant swiping more, and could not reverse the transaction). i had applied for reversal of entry with all documents and stopped using the card. the bank (strangely a PSU) started calling me with a warning of "inconvenience". when i spoke to call center, they told it will take 6 months to resolve and till such time i should bear with these calls since it was another department. the matter was resolved with an apology from the bank in writing after i went to Ombudsman.

[greenhorn]

ICICI using questionable practices is not new
http://www.team-bhp.com/forum/indian...assed-law.html (ICICI - Blatant cheating of customers & the (In)justice that is passed of as the law)

[esteem_lover]

Originally Posted by GTO

Screaming nagging women are tougher negotiators than muscular / aggressive men

Absolutely true.

Actually women are better at most jobs, the world is finding out now.