Institute Of Finance, Banking & Insurance [IFBi] — Unreasonable charges on delays, cheque bounce, early closure

Address:

RBI

The worst thing to do in life is to take a personal loan. The so called legal financial institutes are set scot free for extortion. Any amount of penalty with hounding staff and a social pressure ... there is no limit to that. Our inert system is OK with so many suicides and absconding citizens. First of all unsecured loans should never be given unpropotionately...then if someone wants to opt for early payoff then suddenly all sorts of restrictions and accounts juggleries come into play. And behavior is like they are losing by getting money, which was already unsecured from their perspective.
Shame on this legal loot and the policy makers should introspect and interact with the sufferers to frame a policy on consumer protection.
Start with checking the customer care numbers...90% not functioning and rest would keep you waiting for hours. No penalty on them. Insisting on home branch even in this digital era is another intentional move.