“Sign, Sign and Resign yourself to the fate” is what our private bankers are forcing us towards…
I think RBI and Finance Ministry of India should do a due-diligence homework into the quality of private banking peers in India. Recently I had one encounter with a credit (loan) representative of Axis Bank. This guy was bringing some loan documentation kit and he wanted all the kits to be signed and given back to him in just two minutes and he didn’t want the customer to read anything on the kit.
The height of the hilarity was that he was telling what is the problem in signing and giving the documentation? I had to shoo-shoo him away because I simply can not tolerate such skunks who lack responsibility and look like drivels only oriented towards commissions and (illegal) gratifications without caring about ethics of any sort. I just thought of sharing this incident with the hope that it should be an eye-opener for everyone not to commit any thing to the bankers without reading whatever has been written onto it.
This issue had been brought to the due attention of Axis Bank Loans Head and I would keep you posted on the updates recieved from them.