On Sat, Oct 25, 2008 at 1:35 AM, Eugen Leitl <[EMAIL PROTECTED]> wrote:
> > Any first-hand reports from the trenches? > > http://www.iht.com/articles/2008/10/23/business/rupee.php > > Eugen, is there anything specific you're looking for? Consumer credit is in very bad shape. Many banks have decided to pull out of new personal loans and credit card issuance. Gossip has it that HSBC and Citigroup will be writing off $150 - $200 mn each from their credit card and personal loan book in this financial year. Any new credit is basically an enhancement of existing credit lines for customers with an impeccable repayment record. Banks are also trying to focus on mortgages now since secured loans are * very* secure in India, but nobody's buying just yet - everyone's waiting for house prices to collapse as they surely must. Nobody is getting telemarketing calls for overdrafts or credit cards anymore. The only thing preventing telemarketing calls for checking accounts (which banks are now desperate for) is regulation which says you only bank employees can solicit deposit accounts - it can't be outsourced. It's going to be a very interesting couple of years. -- Aadisht Khanna Address for mailing lists: [EMAIL PROTECTED] Personal address: [EMAIL PROTECTED]
