For instance, HDFC Bank has been spamming mailboxes using third-party databases (Avrial Technologies), with a mailer which says, “There is no minimum credit score requirement for availing its personal loans.” It further claims ‘personal loan eligibility in one minute’ even when copious income and identification documents are required. The Bank used similar gimmicks by offering a 20% discount on e-Bay India for purchases in July but failed to meet its commitment when the response was significantly higher than its budget. Several years ago, RBI had treated such a gimmick by Citibank (free air tickets on a designated amount of credit card purchase) as a class action and forced it to pay up. Hasn’t RBI noticed this mischief or does it absolve itself by issuing a consumer charter and general warnings to people? moneylife.in/article/jan-dhan-desi-problem-videshi-terms/38937.html?utm_source=PoweRelayEDM&utm_medium=Email&utm_content=Subscriber%2313476&utm_campaign=Daily%20newsletter%2030%20September%202014
Posted on: Tue, 30 Sep 2014 15:22:40 +0000
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