Issues dealing with consumer rights
It is an established business fact that when banks give loans to their customers, they normally treat newer customers more attractively than they treat older customers. The terms and conditions of the loan specify for floating rate loan that banks can charge customers more (either by increasing the EMI amount, or the loan duration) if [...]
For some time now, consumer forums have been ruling on unfair practices carried out by banks, with ICICI Bank being one of the banks having been penalized in the past for various actions that have gone against consumer practices. In this case, a forum ruled against the bank after it was disclosed that the bank [...]
ICICI Bank is the largest private banks in India, and caters to a large number of people in terms of banking accounts, loans, etc. However, there have been many cases in the past where the bank has been penalized for harassing a person (do a search in Google and you will find many such cases); [...]
The rise of interest rates has been a steady factor for the last couple of years. There was a time just a few years back when it seemed that interest rates would reach historically low levels, and banks had started offering housing interest rates at levels as low as 7.25%. For people looking to buy [...]
It seems to be a story that keeps on repeating itself over and over; you hear of people being harassed by loan recovery agents for repayment of loans, or of somebody’s vehicle being taken away from them anywhere where the vehicle can be found, and so on. In extreme cases, the pressure or violence of [...]
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