I am on a SPREE!

[sjmajumder]

It seems that RBI-O is being used as Rozgaar ka Avsar. Interesting.

This is wholly my opinion: I use RBI to get the bank to do the needful. I don’t use RBI as a compensatory tool.

Sure, banks are at fault if they don’t provide cards for two months or don’t come for doorstep service for a week, but in all earnestness, these are hardly instances that warrant ‘compensation’ especially when, although late, a resolution has been offered. This “make them pay” mindset isn’t healthy.


The HSBC EMI issue definitely needs to be rectified. Maybe compensated, because yes, there is financial loss. But reaching out for delay in doorstep services! If I did that, I’d certainly be making a good buck. My IndusInd branch is the laziest bunch of slogs I ever saw in any branch of any bank.

What you are saying is, banks can create an issue and then you use RBI to rectify the issue.

This is wholly my opinion: Is it my job to get RBI to fix the issue of the bank? My time has value. Add to that the pain and agony of dealing with senseless customer service representatives. Imagine the kind of harassment to call bank for 7 times (total call time exceeding 100 minutes) over two and half months just to get a card delivered. I think I have asked for far too less for wasted time and mental agony.

 

[Tejo]

It seems that RBI-O is being used as Rozgaar ka Avsar. Interesting.

This is wholly my opinion: I use RBI to get the bank to do the needful. I don’t use RBI as a compensatory tool.

Sure, banks are at fault if they don’t provide cards for two months or don’t come for doorstep service for a week, but in all earnestness, these are hardly instances that warrant ‘compensation’ especially when, although late, a resolution has been offered. This “make them pay” mindset isn’t healthy.


The HSBC EMI issue definitely needs to be rectified. Maybe compensated, because yes, there is financial loss. But reaching out for delay in doorstep services! If I did that, I’d certainly be making a good buck. My IndusInd branch is the laziest bunch of slogs I ever saw in any branch of any bank.

May be due to hype about compensation you might be misunderstanding.

You already agreed on HSBC matter, indus laziness.

Opinions differ from person to person.

1. Indusind carelessness is seen Pan India, They should not be entertained, Only compensation can act as punishment, thereby could be any change in bank policy and behavior towards customers.
2. ICICI should have been accepted the mistaken and removed cibil enquiries and replace that unusable credit card and should be offer with ltf or other high variant for the inconvenience or reward with reward points ... compensation will act as Punishment and they will upgrade their tech and in future Noone will face the issue

 

[sjmajumder]

May be due to hype about compensation you might be misunderstanding.

You already agreed on HSBC matter, indus laziness.

Opinions differ from person to person.

1. Indusind carelessness is seen Pan India, They should not be entertained, Only compensation can act as punishment, thereby could be any change in bank policy and behavior towards customers.
2. ICICI should have been accepted the mistaken and removed cibil enquiries and replace that unusable credit card and should be offer with ltf or other high variant for the inconvenience or reward with reward points ... compensation will act as Punishment and they will upgrade their tech and in future Noone will face the issue

Completely agree with you @Tejo . Unless banks are made to pay for their mistakes they will never improve their services. Compensation is the only way to make them improve their services. When banks have to pay compensation they will definitely look into the root cause. If it is a technical glitch they will fix it to avoid future penalties and if it is a human issue they will take action against the individual(s) responsible which will ensure the mistake is not repeated, at least not by the same individual. This may not happen if banks have to pay an occasional 5K/10K compensation as that is peanuts for them. This will happen only when banks have to pay compensations repeatedly for each of their mistake. So, it is our responsibility to demand compensation for their mistakes, so that we can hope that one day we will have a flawless banking system.

 

[phoenix1386]

May be due to hype about compensation you might be misunderstanding.

You already agreed on HSBC matter, indus laziness.

Opinions differ from person to person.

1. Indusind carelessness is seen Pan India, They should not be entertained, Only compensation can act as punishment, thereby could be any change in bank policy and behavior towards customers.
2. ICICI should have been accepted the mistaken and removed cibil enquiries and replace that unusable credit card and should be offer with ltf or other high variant for the inconvenience or reward with reward points ... compensation will act as Punishment and they will upgrade their tech and in future Noone will face the issue

IndusInd works best when we have some luck on our side and don’t need their branch or anyone else for getting what we want.

For that matter, I can’t trust IndusInd security either.

Back in November 2023, I closed my IndusNet browser tab by mistake. When I opened IndusInd and clicked login, lo and behold! My account was right there. I didn’t need to login.

It was … AMAZING to say the least.

 

[phoenix1386]

What you are saying is, banks can create an issue and then you use RBI to rectify the issue.

This is wholly my opinion: Is it my job to get RBI to fix the issue of the bank? My time has value. Add to that the pain and agony of dealing with senseless customer service representatives. Imagine the kind of harassment to call bank for 7 times (total call time exceeding 100 minutes) over two and half months just to get a card delivered. I think I have asked for far too less for wasted time and mental agony.

Oh, we are all well aware of how bank personnel treat us. If we give them new business every time they see our face, they treat us with a pseudo courtesy. If we want what the bank itself says it will provide us, we see a different face.

The anguish of dealing with customer care people on phone or representatives at the branch is not lost on any of us.

It is important that banks face punitive measures as deterrent. That way, some day, they may train their personnel to service right the first time lest the bank needs to pay more than it would have, had it provided the service appropriately the first time.

My take on approaching RBI is just that are the hassles really that bothering that we spend more time getting some money from the bank? What if the rules were about compensating with a box of laddoos and not wads of cash? Would we have bothered with RBI then for issues?

I understand we get angered and want to be compensated with something. I get that. But, I also think we should use the compensatory route sparingly.

At the end of the day, what I want is resolution, not compensation. Reaching RBI and demanding compensation for every single thing the bank doesn’t do us right by runs the risk of labelling us as something we are not, in the eyes of those people.

Most of the times, I would reach RBI because the bank is not responding/ refusing to listen and I want resolution of my issue. Demanding compensation for every matter puts me in a light I do not want on me.

The ombudsman must be keeping records of complaints, and if they see a pattern regarding the seriousness of issues, they might one day become biased. That’s what I don’t want.

 

[Tejo]

IndusInd works best when we have some luck on our side and don’t need their branch or anyone else for getting what we want.

For that matter, I can’t trust IndusInd security either.

Back in November 2023, I closed my IndusNet browser tab by mistake. When I opened IndusInd and clicked login, lo and behold! My account was right there. I didn’t need to login.

It was … AMAZING to say the least.

I can understand, It didn't waste your time by asking login procedure again.

But It is a security concern.

 

[phoenix1386]

And.. there are plentiful of issues with the ‘system’. No use being an ‘angry young man’. That era is long gone.

We can either enter the system and rise enough to a position where we can effect change, or we can navigate the system to the best of our advantage.

It certainly isn’t our job to reach RBI for a bank problem. Okay, we get compensated by RBI for bank issues. Who will compensate us for the unfairness of having to reach RBI ourselves, then? What I’m saying is, these are loops and rabbit holes we best not dive into.

 

[phoenix1386]

I can understand, It didn't waste your time by asking login procedure again.

But It is a security concern.

Closing a browser tab should close the session and we should be required to enter our credentials again. IndusNet didn’t even show the login screen. It just took me to my account.

 

[phoenix1386]

Completely agree with you @Tejo . Compensation is the only way to make them improve their services.

The only thing sure to make banks do something is enact that something as law and/ or RBI regulation.

Compensation is NOT the way to go with large entities. Compensation works when it hits the bottom line and hits it hard.

Not 100% or even 90% of bank customers will ever reach RBI any given day or even year. They simply won’t. People don’t have that time. So, banks will always come out on top, no matter the amount of compensation they dole out to people.

A person’s worth is 50 crore and the person is into shady practices with employees. Reporting the person and getting awarded a penalty of 5000 won’t do anything. Situation must change - either a majority complains against the person, at which point the person might still be able to get out of jail by paying and still have money in pocket from the shady practices, or the person might actually land up in jail, and while the person is in jail their family members still get to keep the money.

System is flawed. Best we can do is work our way around it and thank our stars when we don’t have to fight it.

 

[phoenix1386]

This will happen only when banks have to pay compensations repeatedly for each of their mistake. So, it is our responsibility to demand compensation for their mistakes, so that we can hope that one day we will have a flawless banking system.

Our collective responsibility is to educate our children. When done right, we would not face the issues that we do, not just in banking either.

 

[iambidhan]

Good job man gave me another income source idea.

 

[#aniket]

Thanks @Tejo

ICICI is not there because of BO's mistake. I showed proof and BO accepted. But his hands are tied by policies. It was BO's mistake to close the case without checking the card number thoroughly when my complaint specifically mentioned that primary card is working, add-on card is NOT. He should have matched each of the 15 digits before giving his order.

@sjmajumder

Imaginary:
Ayesa karte aap BO ke sath conversation record karke BO pe due diligence parog na karke case closed karne pe aur ICICI pe jo case tha along with fraud ka case ke sath consumer court jate ek baari

Litigation cost bhi mil jaata along with Compensation. Haan time and effort lagta but worth it ICICI ko aukaad dikhane ke baad darta ye dubara karne ko...

Court order deta toh RBI apna policy bhi reframe karta most probably.... matalab ye koi baat huwi entity se sunee ke baad sidha case closed even not appealable, at least last mein complaint se closing argument toh maangta, santusta huwa ya nahi, communication bhi transperent nahi rakhta dono party ek dusre ka arguments, documents kyu nahi dekh sakta, uske baad pata chal jata ICICI jhoot bol raha hai, compensation ke sath heavy penalty aur uska representative and ICICI ka BO ko expelled hi kar deta tab na maja aata ...ye bank wale ko ye loophole pata hai isko use karke kitno ka case closed kiya hai...

HSBC ke case mein online bhi metting rakh sakta tha na jada convenient rehta...5000 kam hi huwa physically bulaya 15-20k ka lagta punctual nahi hone ke karan ya pehle hi nahi batana ki nahi aa sakte aap decision suna dijye
wagerah...

By the way, many many congratulations

 

[Hemang]

Has someone complained to RBI against any bank for not giving limit enhancement ?

 

[#aniket]

Groundwork done...

View attachment 60431

@sjmajumder Kya response aaya bro iska?

 

[sjmajumder]

@sjmajumder Kya response aaya bro iska?

Reply from HSBC: "We need more time to resolve your complaint"

 

[sjmajumder]

Has someone complained to RBI against any bank for not giving limit enhancement ?

I believe LE is completely based on a bank's internal policy and there is no RBI guideline on the same.

 

[sjmajumder]

Unfortunately things are not in black and white. RBI policies are not strong enough to protect the consumer.

I took the opportunity to talk about #4 where my complaint was closed based on fake evidence provided by ICICI Bank. I told BO that ICICI has provided you fake evidence and closed the case and now I am neither able to appeal nor log another as it has become non-maintainable as per your policies. He said if it has become non-maintainable, he does not have the power to do anything about it. The only option for me is to go to consumer court. I told him it will be too much of a hassle for me and I am not ready to take up the same. Then he took the details of the case from me and told me he will have it sorted with ICICI and will get the issue resolved. But he will not be able to take any action against ICICI and will neither be able to provide any compensation.

The issue has been finally resolved. I was able to make the first transaction on the card on 16th. I have no clue how it got resolved. Replied to the last mail from ICICI with RBIO in cc mentioning that problem is resolved and enquiring about the problem/solution. I am sure no one will reply.

Update:
And as expected, till date (12-Aug) no one has replied.

 

[HumorSimpson]

I think the compensation amount gets added to your income and taxed as per the tax bracket you are in.

IT should track bribes too, at this level and add them to cops income.

 

[sjmajumder]

IT should track bribes too, at this level and add them to cops income.

Will happen as soon as RBI stops all cash transactions by withdrawing all currency notes and coins

 

[HumorSimpson]

Will happen as soon as RBI stops all cash transactions by withdrawing all currency notes and coins

Then they may switch to crypto or physical gold.