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Sensing the anger amongst people - the Govt announced that the state run Bank of Baroda will roll back new changes that were brought in for even deposit of money to the bank! However there are far more banks that are already levying such charges (even for withdrawal of money)....over the last few years banks have extracted thousands of crores of depositor money via such charges - that are often obscure and hidden.
There is another sort of loot in the banks that is going on of late - that of mis selling of financial products and funds - with the sole aim of fattening the bottomline of the bank and not the welfare of the customers.
In this episode of The Deshbhakt we take a hard look at how banks are fleecing customers and abusing the faith that people place on them.
0:00 - Heist that strikes anywhere!
2:26 - The Open Loot by Banks
3:58 - Hidden Charges and Fees
5:48 - Bank selling inhouse products to own customers
6:53 - Brazen Mis-Selling of Products to uneducated customers
7:31 - No one to pull up the banks??
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****** Credits *******
Writer : Akash
Editor : Tushar
Misselling always has been a problem -
200,000 customers approach RBI to stop this fleecing -
The problem of mis-selling
Banks selling own group mutual funds!
Gold loan for locker ?
Why there are so few complaints
HOw to register a complaint with a banking ombudsman
The menace of Misselling
Now pay to even deposit your money!
How to escape the heist!
The size of the fine / fees!