This person called Gireesh calls him up and says that he can get the loan approved if the customer pays him 3% commission. The customer agreed to give and so Gireesh comes to the customer’s work place to collect the money. The customer offers to give him cheque as he has no guarantee that the loan will get approved. The cheat refuses. He even comes down to 1.5% commission in cash but the customer refuses.
When this was reported to the bank, apparently no action was taken. He still works for HDFC Bank, Personal Loans section, Indira Nagar, Bangalore.
This looks like a nice way to beat the recession for the bank. First reject the loan application and then send such crooks to get commision upfront. Never do business with any private bank. ICICI is also a cheat. It never reduces the interest rates even if RBI reduces the PLR. I am still paying 13% interest on my home loan which SBI has now reduced to 8%.
The processing in private banks will faster but after some time you will realise that it was a trap. Never fall in that trap.