We all have been at the receiving end of a persistent salesman on ICICI Bank, pestering us for taking a credit card. They used to call up at odd hours, send scores of SMSs and direct mailers through post and even when you go to the bank for some transaction, there used to be these credit card salesmen, not ready to take “no” for an answer.
And now, all that aggression seems to have hit ICICI Bank the wrong way. It is said to have lost more than Rs 11 crore due to over 8,000 cases of credit card. There were 8,280 cases reported by the ICICI Bank to the Reserve Bank of India, in which it lost Rs 11.47 crore between April and December 2008.
ICICI Bank was the biggest loser. According to the data, a total of 12,959 such cases were received during the said period in which various banks lost Rs.36.54 crore. American Express Bank had 703 complaints in which it lost Rs 6.04 crore. HSBC Bank had 2,484 cases and it lost Rs 4.90 crore. Citibank bore a loss of Rs 4.73 crore, Standard Chartered Bank Rs 2.39 crore and Deutsche Bank lost Rs.2.09 crore. Only banks to have no cases on credit card frauds reported against them were IDBI Bank, Canara Bank and Indian Overseas Bank.
