tag:blogger.com,1999:blog-20715810.post2382623404266682242..comments2023-08-03T20:56:00.765+05:30Comments on Baingan-lores: No Right to Information = Wrong InformationVidooshakhttp://www.blogger.com/profile/08030746290165298466noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-20715810.post-33952760341394223862009-04-07T15:42:00.000+05:302009-04-07T15:42:00.000+05:30this post is quite an eye opener! thanks a ton!this post is quite an eye opener! thanks a ton!Ghttps://www.blogger.com/profile/11231882075753823700noreply@blogger.comtag:blogger.com,1999:blog-20715810.post-82869914365830596452009-04-06T15:05:00.000+05:302009-04-06T15:05:00.000+05:30Coincidence: ICICI has a note on CIBIL as part of ...Coincidence: ICICI has a note on CIBIL as part of their customer-education ad campaign today. <BR/><BR/>With a straight face, they say you must run between ICICI, CIBIL and the erring bank, if you wish to 'clear' your records once ICICI rejects your loan based on a bad report from CIBIL.Vidooshakhttps://www.blogger.com/profile/08030746290165298466noreply@blogger.comtag:blogger.com,1999:blog-20715810.post-21195238035771876272009-04-04T13:09:00.000+05:302009-04-04T13:09:00.000+05:30Thanks for sharing your story, Sowmya. That's exac...Thanks for sharing your story, Sowmya. That's exactly the kind of scenario where the way CIBIL currently operates could be hazardous. We have seen in Satyam, AIG and other cases that finance guys and accountants love to hide stuff in the name of "oh this too complex for you to understand" or "this is high level secret stuff". All the while, what is really happening is, they use a combination of our trust and ignorance to further their own cause. <BR/><BR/>The only way out is to have clear, transparent rules that cannot be misinterpreted or easily abused by the banks/CIBIL. <BR/><BR/>Another example is Home Loans. Instead of a clear formula, all banks have different "proprietary" formulae that you can not easily reproduce in Excel. So you are never sure if they make a mistake. I am convinced HDFC is over charging me royally on my home loan right now. <BR/><BR/>Unfortunately, I need to be a finance genius like them to prove it beyond doubt... That is what they count on to become the megacorps they are.Vidooshakhttps://www.blogger.com/profile/08030746290165298466noreply@blogger.comtag:blogger.com,1999:blog-20715810.post-65858909352847016442009-04-03T17:08:00.000+05:302009-04-03T17:08:00.000+05:30Hey I have an incident to narrate, which could be ...Hey I have an incident to narrate, which could be a post of its own!<BR/><BR/>I got a lifetime free (big farce)credit card from ICICI bank sometime back. They charged annual fee on that and I kept calling them to cancel the charges, which they didnt agree. I let that be. After sometime I lost the card and reported it and refused a replacement card. They wanted me to settle the outstanding which was nothing but the annual fee + interest on delayed payment, which I refused to pay. I then wrote to the Banking Ombudsman in B'lore to get the issue resolved and i have with me safely filed, a notice from ICICI bank stating that there are no dues against the card.<BR/><BR/>Some months later, I was in dire need of some money, so I applied to ICICI bank for a personal loan. I'd get a lower interest because my salary account was with them. They turned my application down because CIBIL report stated that I am a defaulter on that card, which I have evidence to prove that I owe nothing to. I thought I'd sue ICICI, then common sense prevailed.....I raised a 2nd degree complaint on ICICI in really sobre, toned down, flowery words that ICICI pls look into this. <BR/><BR/>I got another chance to submit all the docs for the loan again. I am assuming that is because they corrected their records with CIBIL. I have no chance to find out, though. Meanwhile, I had procured funds and have just left things there.<BR/><BR/>Its like ICICI bank said 'panga mat lena'. It shook me up for a brief period though.Sowmya Srikrishnanhttps://www.blogger.com/profile/04300900225172809423noreply@blogger.comtag:blogger.com,1999:blog-20715810.post-46045970227124185382009-04-03T00:39:00.000+05:302009-04-03T00:39:00.000+05:30ooh.. yes, CIBIL is required, but like u rightly s...ooh.. yes, CIBIL is required, but like u rightly said, i m uncomfortable with teh lack of transparency. Thanks for the post. it makes great reading.How do we knowhttps://www.blogger.com/profile/01763488475931737293noreply@blogger.comtag:blogger.com,1999:blog-20715810.post-72773920682589689552009-04-02T14:04:00.000+05:302009-04-02T14:04:00.000+05:30Oh man, what did u do about the charges levied on ...Oh man, what did u do about the charges levied on the card? Over here we just have to call the credit card company and they take care of the double charges. Like you said the credit rating should be available to all the tax paying citizens.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-20715810.post-7167245979567314072009-03-31T15:13:00.000+05:302009-03-31T15:13:00.000+05:30phew! there you go again showing both sides of the...phew! there you go again showing both sides of the coin and making perfect sense while at it.<BR/><BR/>it seems quite unfair that I should not be privy to my own credit history and be penalised for someone elses error sometime in past.<BR/><BR/>hmmmm...<BR/><BR/>great post!Mama - Miahttps://www.blogger.com/profile/06330103540647472728noreply@blogger.com