The ICICI Bank Relationship — Evolution and Fall
- ICICI Bank — A Bad Experience for many
- Private Banks in India — Banking for the Booty
- Express IT Courier and Credit Card Felony
- To close a bank account, it takes 15 months. That is ICICI.
- Inconvenience of entering the PIN number
- The outsider can just peep at what you are entering.
They were even responsive and after a while, this PIN panel was also replaced them. The negative experience with ICICI was also slowly cropping up. ICICI Bank, Cenotaph Road representative squeezed on us salary accounts even though the Chrysolite Management was not willing to credit salaries to it. They outright told that it is upto the employees to open the salary account but the management would continue disbursing the salary by pay cheques only. Because of the small team and the marketing guy’s incessant trouble, I opened another ICICI Bank account but just a week after, I just felt it was waste and hence closed it outright. 🙂
Time went on. I had a brief tour to New Delhi in May 2002 on a client site assignment at GECIS, Gurgaon. I should say my ICICI account was rather helpful at New Delhi on account of the following reasons:
- Being a contract employee for Sakshi Automation Solutions, I need not open a separate account and they were happy to credit the pay to my existing ICICI account.
- This was the first time, I have been travelling a few miles across from my hometown (Chennai) and hence a quick money source was the ATM card.
After the contract assignment, when I returned to Chennai, I had other assignments with organizations here. I have anyway explained about the ICICI Bank relationship from then on over the four points in the start of this report. I have a few points over ICICI Bank relationship:
- No doubt they are trying to be very innovative in banking products but the problem is that currently to achieve cost cutting and economical operations, they have outsourced most of the banking operations to low-profile staff all over the country. You can see how mean and baseless was Adyar Branch Manager’s reply in (2) above.
- Since the branch staff are low profile, they also outsource the collection tasks to goondas flouting the laws of land and hence all over the country, the law and order terribly breaks down because of this bank.
- In an aggressive marketing spree, they have commissioned so many telemarketers to sell their banking products. But the chosen telemarketers are just headed towards getting more commission. They hence flout the laws of land particularly the NDNC. Inspite of registering to all NDNCs in India, you would still get telemarketing calls for sure and a good chunk of 75% of them would be from ICICI group.
How to tackle this menace?
You ought to be persistent and report each and every issue to Central Processing Unit of ICICI Bank. They have three channels. Remember it is a very slow process. Sometimes, the ICICI Customer Care sends gibberish crap responses and pretend as if they don’t understand your query or complaint at all. If you encounter such a situation, escalate to Head Service Quality.
I believe, the ICICI Management has to take some real pains to bring a sea change in its operations to alleviate the entire depth of carcinogenic maladies that has infected throughout the organization.