*Loan,banking and credit>>>bank loan

What Reserve Bank should do for the CREDIT CARDS & PERSONAL LOANS?

The female staff of all private banks have made unsolicited phone calls to Indian people who are earning some money by stating that Life time free cards and issued personal loans. Indian poor people who have taken the credit cards unknowingly spent the money & have been paying the entire incomes as EMIs Now to pay all the dues they dont have any money since all their incomes are going in unexpected EMI's and unanticipated loan interest which is approximately 60% which more than Marwadi amounts. What the Reserve Bank of India Chairman should know is that it is due to unsolicited phone calls and so the loss occured due to unsolicited phone calls and banks should be made to take the loss of the people. Otherwise, there is going to be a very huge law and problem for which Indian Government don't have infrastructure to arrest lakhs/crores loan taken defaulters. Some kind of solution should be found otherwise it is going to be a very big SCAM for which I see no other solutions.

Be calm

You can forward your suggestions to the RBI. Visit the web site www.rbi.org.in to find out what measures RBI has already taken and what are the ways you protect yourself. Also, you will find links & e-mail ids to convey your feelings to the top management of the RBI.
It is cheating but RBI can not do anything. RBI can guide / want people but poor read no newspaper. Poor has phone and unwanted calls. A lot of home / loand agents submit forged documents in banks etc. Applicant is ignorant on documents submitted by DSA etc. Many put forged stamps of CA etc.
Public is lured by many attractive proposals. But its upto us to protect our interests. Its upto us to educate on these things for mere survival. If still one gets cheated, it is his own fault. There is no need to blame others for his own faults.
It is high time that the credit cards are controlled. In the first instance, they should be prevented from luring public with offers of credit. None should be allowed to avail of more than one or two credit cards. On top of all, the interest or transaction charges should be reasonable and be fixed by the RBI and they cannot have any say over the fixation of these charges. The credit cards are making the Indians a spend thrift and fall into a debt trap.
To make our country free from corruption, basically the unaccounted cash transactions should be avoided. For
that the following system may be adopted. We welcome your valuable suggestions.
In this system citizens of India above 12 years of age will receive a cell phone (identification instrument
capable of data processing with the aid of network services and the master computer. It will be integrated
with Global Positioning System.) with built in history card, camera and finger print scanner. Every citizen
will be assigned with an identification number *** cell phone number with finger print details. Problems with
the cell phone instrument will be immediately attended otherwise it will be replaced with another good
working one with the same data drawn from the data bank of the master computer. Tourists from other countries
will be given temporary instrument and their activities will be noted continuously. Children under 12 years
of age have to be taken care by parents or guardians. Peoples are doing mistakes because they believe that
nobody notices.
The history card consists of the following details and will be operated automatically from master computer
through reliable networking systems.
1.Name, 2. Family history, 3. Identification number *** contact cell phone number (even though a person
changes his/her name the identification number will not be changed), 4. Credit amount in rupees, 5. Debit
amount in rupees, 6. Details of each cash transaction, 7. Password protected transaction code, 8. Type of
transaction (details of work done and charges, reason for the transaction), 9. Net income, 10. Net expenses,
11. Tax payable to government (will be deducted automatically during every transaction and will be adjusted
with the net income every financial year). 12. Marital status, 13. No of crimes and cases against the person,
14. Rating.
Fingerprint and camera makes secure transaction and security code avoids others interference in the system.
The following are the advantages, later eliminates all the negatives in the country,
1. Reduces 鈥?corruption in all departments of government, private, public sector and other
organizations,
2. Reduces - irregularities in calculating tax,
3. Reduces - tedious calculations in finding net income,
4. Reduces - the operating cost by reducing the manpower requirement where ever cash has been dealt
(for example a conductor in bus, cashiers in bank can be utilized in another productive way),
5. Reduces - critical calculations in industries and inventory follow up,
6. Reduces - total control on unauthorized monetary and goods transaction,
7. Reduces - betraying, exploiting and cheating of innocent peoples, financial organizations through
tricks, over commitment and magic,
8. Reduces and totally eliminates fake currencies and fake stamp papers,
9. Reduces - selling bad quality or duplicate products,
10. Reduces -sudden variations in market price through gambling,
11. Reduces - illicit commodities like country liquor, marijuana and other related things,
12. Reduces -selling low valued goods with higher price,
13. Reduces - black markets and eliminates black money,
14. Reduces - price difference among material suppliers,
15. Reduces -unnecessary spending of money by children and parent dependant students in wrong way which
leads them to wrong way of doing life,
16. Reduces 鈥?blackmailing of persons for money,
17. Reduces - theft and robbing of cash and valuables,
18. Reduces - crime rate related with cash and properties and cost included in handling cases related to
money and properties,
19. Reduces -partiality in judgments,
20. Reduces -wrong or reduced valuation of assets,
21. Reduces -brokerage charges of agents, auditors, clerks and other human resources doing the same type
of repeated mathematical works,
22. Reduces -wrong statement of things or consumables and related items,
23. Reduces -wrong statement of events which exaggerates the situation,
24. Reduces -the expenses for anticorruption bureau, tax regularizing authority,
25. Reduces -diversion of youth power,
26. Reduces -terrorism and supporting activities,
27. Reduces - harassment of women for dowry,
28. Reduces -child labor, every children under the age of 12 years should undergo education program as
desired by government,
29. Reduces -dependency of men and women (everybody will work hard for their individual credit rupees),
30. Reduces -dependency of citizens with authorities (for getting certificates and verification where
ever required),
31. Reduces -queries arising in judging the value of insured goods,
32. Reduces -compulsory unaccounted donations to educational institutions (reduces cost of education),
33. Reduces-unaccounted donations to trusts,
34. Reduces -unaccounted properties, byname properties and assets,
35. Reduces - looting of money by showing wrong accounts, exploitation and looting of customers money in
the form of service charges and other expenses with out informing the customers,
36. Reduces -unauthorized telephone exchanges which creates loss to government,
37. Reduces -threatening for money or property because all the transactions are automatically recorded
and monitored by master computer,
38. Reduces -mental torture and deterioration,
39. Reduces -bribes,
40. Reduces -flesh trading, beggars who creates nuisance in public and makes the life of others
miserable,
41. Reduces 鈥揻raudulent activities,
42. Reduces 鈥?rowd-yism,
43. Ultimately reduces the total cost of living.
44. Increases government income because nobody can show wrong accounts, +
45. Increases better morale among peoples, +
46. Increases humanity, +
47. Increases total data control and history of individual, +
48. Increases accurate transaction details and activity reports, +
49. Increases correct benefit to deserved persons, +
50. Equality for all, +
51. Increases income of really hard working peoples, +
52. Increases effective rate of spending money, +
53. Peaceful life for all, +
54. Very easy processing documents like passports, immigration and other related works, +
55. Increases Quality of products, easier inventory control, +
56. Increases quality of life, +
57. Increases the level of attitude of all citizens, +
58. Increases Productivity, +
59. Healthy surroundings, +
60. Increases Quality of medical treatment independent of peoples capability of paying money, +
61. Increases Effective use of human resource, +
62. Increases Technological research and development in all fields, +
63. Increases safety and security, +
64. Increases control over immigrants and easier tracking of their activities, +
65. Increases control over Defense ministry and Ammunition officials, +
66. Increases the degree of watching on overseas calls and suspected calls from any citizen who lives in
INDIA to any,
67. totally eliminates the cost in conducting elections. peoples can be asked to cast their votes anywhere
from INDIA to their constituency with in that stipulated time.
68. easier crime and error reporting with the assistance of camera and GPS system with digital photo with
time and place+
We welcome more suggestions and the advantages, which you feel to make this system better. Send your
suggestions to tvijay_1978i@yahoo.co.in
In the way of making better corruption free INDIA.
IMPLEMENTATION OF THE SYSTEM MAY TAKE A WHILE BUT IF IT HAS BEEN DONE, INDIA WILL BE THE BEST IN THE WORLD
and it is in our hand to pressurize authorities to implement it.
We regret if you find any mistake in this.
JAIHIND
Sincerely,
t.vijayakumar.