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Monday, February 09, 2009

Cost-cutting ... Looting at best!!!

Just checked the brokerage amount on my last few ICICIDirect trades and notice that the brokerage rate has gone up from 0.9678 to 0.9811 without as much of a notice saying there's been an increase either in the brokerage or the service charge.

Just had my Karnataka Bank Account charged 225 per month for the last 4 months due to a change in min deposit in the account without as much of a communication. Apparently, they had sent a mail ... but probably chose not to put the stamp on it as a cost-cutting measure.

My Dad had a similar experience with Canara Bank recently. And who said the financial downturn hasn't hit India.

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