Staff Reporter

State-wide meeting to be held on May 28 to discuss atrocities against customers

Lack of transparency in financial statements flayed`Multi-national banks violating customer privacy'

HYDERBAD: A State-wide meeting will be held here on May 28 to discuss the alleged atrocities of financial institutions against middle class customers, according to Pragathi Social Services and Grievance Redressal Society.

The Society president B. V. S. Prasad Choudhary told reporters here on Friday that several micro finance institutions were resorting to extortion to recover their dues.

He referred to an incident in which a borrower in Krishna district was driven to murder a recovery agent who slandered his wife.

Lack of transparency

An aggrieved customer A Sankar said he was billed for a cell-phone he hadn't purchased. Numerous other cases of similar nature were reported in the media.

Gopal Krishna, another bank customer, said banks were enhancing the credit without the customer's consent and complained that across the table transactions had become impossible.

Another speaker Akhtar criticised the lack of transparency in financial statements of credit card holders.

Customer privacy

He said multi-national banks were violating customer privacy and demanded accountability for the service tax paid by the customer.

The society can be contacted on telephone numbers 27632525, 9885833646, 55629333.