“This article tries to be a clarion call that all those people who deal with ‘OUR ALL- CONSUMING -BANKS’ think at the least a couple of times, taking more than enough time, before they go to have a financial interaction with any bank!
It is very important that one must think & analyse from a variety of angles before having any financial interaction with any bank as the image they have been projecting all over the years seldom gives the common man any idea of the banking industry that he has been living with the false assumption that everything is fine with the banks & the transactions one has with them!
The following is an article which I put on the net almost three years ago! As I think, even after these 3 years, the topic is as relevant as it was in those days, I thought it would be of great use to the modern loan takers & those who have financial transactions with any bank etc to have at the least a good idea of the ‘Banks’ on which the proverbial common man always depend or made to depend on!!!”
http://www.orkut.co.in/Main#CommMsgs?cmm=27299806&tid=5304472704405927890
Johnson V - Feb 20, 2009
Bank Demons Of India!
Even 2 months after the Reserve Bank of India (RBI) reduced the Cash Reserve Ratio (CRR), the banks are maintaining the high interest rates they have been charging for around 2 years now! It is pathetic to know that the authorities and the government have turned a blind eye towards this, one should say, criminal act! All these banks -including the nationalised banks- had hugely increased the interest rates on the Already Loan Taken Customers, citing a million reasons, a couple of years back! All those poor guys, who took the loans at around 7% woke up one fine morning learning that they are paying around 11% or more on the loans taken at the FIXED INTEREST RATE of around 7%!
Please Read The Entire Article @ My Blog!
http://viewcrackers.blogspot.com/2009/02/bank-demons-of-india.html
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