Borrowers are not as helpless, nor banks as aggressive
When man bites dog, it makes news. Similarly, when a big and powerful bank goes after a seemingly helpless borrower, it makes great media copy. Personally, I believe that stories about individuals who pull a fast one over big banks and finance companies is also newsworthy but banks rarely want to admit in public that they were cheated by...
There are active support groups to fight government harassment
Ever so often MoneyLIFE receives queries that have no easy answers. Unlike grievance redressal, in which we have a high degree of success, thanks to the cooperation of market intermediaries and regulators, queries pertaining to government revenue agencies have no quick-fix solutions. Each individual has to resolve her/his own...
Report cases of corrupt or arrogant revenue agenciesthat force you into non-compliance
Regulation must not be framed on the assumption that everybody is out to break the law, but in a manner that makes it easy for those who want to comply with it, said SEBI chairman CB Bhave at a recent seminar. Someone must tell that to finance minister P Chidambaram and his revenue collection agencies. Mr...
