HDFC Bank, a leading bank in India is charging the customer for remitting cash into one’s own account in the same bank’s branch in another city.
What logic is this?
I went to withdraw from HDFC ATM.The machine could not dispense it,stating it could not .On complaining to my bankers,ICICI,they have taken the complaint and informed that it would take 12 days to intimate the status, citing technical problems in accessing information from HDFC.
What non sense is this? For their mistakes I can not draw my money for minimum 12 days;till then I do not know its fate.
What is the point in Banking if you can not take your money when you need it?
I withdrew money from another bank’s ATM ,couple of minutes later.
What if I had only the minimum balance and my money is blocked?
Any body listening?
Another funny episode.
My daughter invested in HDFC and was given temporarary receipt and was informed original receipt will follow.
Later when we went to collect it, we also wanted a declaration that we have invested money for filing Tax Returns.
A letter was issued stating that ‘so and so has left money with us;we can not vouchsafe the transaction nor can we declare as to the authenticity of the signature of the person.
How about that!
I took it up with their Vice President in Bangalore and another proper letter was issued.
Tag: Business
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Short Changing by Banks-India.
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Doctor, Qualifications and Fame alone will not do.
I admitted my daughter for delivery in a Premier, first corporate Hospital in India, now at Bangalore(Branch Office?)
The ChieF Doctor for Gyn,is looked upon with awe by the other Doctors and support staff of the Hospital,not to speak of the patients.
This gentleman,who is around 50, exudes arrogance to the point of irritating patitents;never allows patients to express their complaints/symptoms;in fact he does not allow patients to sit even;he dismisses them in a few minutes, with routine instructions;if you interrupt for clarification, God save you;in every breath, he shall say’ let Natutre take care’, but prescribe ‘n’ scans;if you ask him whether it is safe to avoid lying on the back in advanced stages of pregnancy(as elders say it may be harmful for the mother, the answer is’shut up,you better listen to these old women’I wonder how his mother deliverd him,definitely not in a speciality Hotel, sorry, Hospital.Derisive to the core of Indian thoughts on Delivery, some of which are accepted by medical science, he dismisses other supporting Doctors/staff’s view, as in when an elderly, experienced Scan Department Head suggested not to scan the baby after birth often, he ridicules him.
He demanded the scan to be done immediately, for he wanted close the file!(We did not do the scan.)Support staff are afraid to air their views on any subject, including the weather, if you are his patient.
What A Doctor!
As comic relief, one should see the Plaque in the Hospital, which after listing major advancements in Gyn.in the History of Medicine, states,after Caesarian Section, the achievement in the world is”…..Hospital offers world class Prenatal and post natal care in India”
Can you beat it for sheer effrontery? -
Some strong yearnings for good earnings.
Surge in market might be due to Cartel trading to force the Govt. to believe that every thing is allright and no market regulations are needed.After all market is controlled by big corporations, for that matter power centers as well.!
Story.
CNN) — A diverse collection of earnings and government reports will again put the economy at center stage this week, as investors wonder whether the Dow will remain comfortably above the 10,000 mark.Consider the mix of companies due to add to the debate about whether a recovery is taking root: Apple, Microsoft, Coca-Cola, Wells Fargo, Pfizer, United Health, Yahoo!, AT&T, Delta Air Lines and Merck.
And from the government: the Labor Department’s Producer Price Index (inflation), the Commerce Department’s new housing starts report and the Fed’s Beige Book — its summary of economic conditions region by region.
http://edition.cnn.com/2009/POLITICS/10/18/john.king.monday.memo/index.html -
IBM, McKinsey in the footsteps of Price Waterhouse.
Highly overrated,self righteous Blue Collar criminals all.
By the way a scamster on the same scale by the same name from Chennai,TamilNadu was reported absconding . ???????
Story:
New York: It isn’t often that big blue gets a black eye. But on Friday IBM, the leading US technology firm known for its conservative management, found itself entangled in the largest ever hedge fund insider-trading scheme involving Galleon Group founder Raj Rajaratnam.Robert Moffat, senior vice president and head of IBM’s systems and technology group was named as a defendant. Executives at leading chipmaker Intel Corp and management consulting firm McKinsey & Co were also implicated.
http://ibnlive.in.com/news/scandal-hits-corporate-role-models-ibm-mckinsey/103515-7.html?from=tn -
India, a case of reverse imperialism: Forbes
For a change nice to hear about India.Unfortunately,unlike China,does not know how to flex its economic muscle in the Diplomatic arena.
Story:
India is still labelled an emerging market, but the Forbes magazine has argued that the country’s economy has already emerged. And as the economy spreads its wings, its companies are turning to new international markets, perhaps beginning a reverse imperialism.For proof, the US business magazine lists not only the recent high profile acquisitions by Indian firms, but also facts such as four of the top 10 billionaires in the world are Indian, and that with an annualised five-year total return of 42.2 per cent, India comes second after Brazil in terms of the growth of the world’s largest public companies.
In comparison, the growth percentage in Britain and the US are 17.1 per cent and 11.1 per cent respectively, indicating that the balance of economic power in the world is starting to shift, the magazine said in a commentary piece in its latest issue on Friday.
-“The reason for this reversal of fortunes is that for established companies in the US and Britain it is difficult to grow as quickly as those expanding from nothing, as is the case for start-ups in India.
During the 18th century, when the British colonised India and started exploiting the subcontinent’s vast natural resources and to expand trade, tea became an important commodity and came to symbolise British colonial rule.
In a case of reverse imperialism, Tata Tea, part of the diversified Tata Group, bought Tetley, Britain’s largest tea company, in 2000. Tata Tea has since become the second largest tea manufacturer in the world by volume, surpassed only by Unilever, based in London and Rotterdam.
This March, in another example of British brands being picked up by an old colony, Tata Motors acquired Jaguar and Land Rover from Ford for $2.3 billion. Tata Motors hopes the acquisitions will boost its ability to be a “meaningful player” in the global market.
India’s monetary muscle is strengthened by a cheap domestic labour market and its companies’ high price-to-earnings ratios, the magazine quoted Tarun Khanna, a professor at Harvard Business School’
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