A disgruntled account/credit card holder of one of the leading banks disclosed that he received a call from his bank inquiring whether he had made three consecutive transactions consecutively amounting to around Rs 80,000/-. To his utter dismay prior to going to bed for a good night sleep, he told the bank employee that he had not made any transaction and was oblivious to what was being communicated to him. …
Read More »The Chicago-School Economists’ guru Milton Friedman and his disciples started to storm the White House in Reagan era. They brought with them the recipe to counter stagflation – a situation when the US economy remained stagnant in spite of rising prices. The recipe for the government was: increase money stock, cut interest rate, and make credit as easy and abundant as possible. For American people the message was: go …
Read More »Standard chartered makes it digitally innovative Credit cards — in fact a way of borrowing and looks attractive when one goes to have one for purchasing goods and obtaining other services but however the attraction of the card evaporates as soon as it piles up the debt beyond ones capacity to payback. It is a facility to be used productively for the good of the holder and not to …
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