Todays Accurarcy and Perfectness of a customer

Todays economy has changed in to reverse gear. Previously poeple used to save a lot and spending less. Their richness and greatness were counted in the form of wealth, valuables, lands, plots, farmhouse which were accounted in the form of savings.

They used to give their belongings in the form of security and hypothecation for applying any bank loans. Banks previously used to get many formalities from the applicants for loans which were in the form of rights of ownership of their belongings in their name. There were very lenghty process to obtain loans from the Banks and Financial institutions. People were turmed and toiled for obtaining loans.

People were considered rich and great in the primitive stage when they were used to give loans to others for which they were used to charged a very high rate of interest compared to banks.They were called money lenders and Marwaris by keeping the pledge of their belongings with them.

Today it has got reversed, Banks do not take any hypothication or pledge of our goods and belongings which is gained by our savings but sees our expenditure. Todays world is more emphasised not by savings but expenses.

Todays to obtain loans one has to give IT returns and Bank statements so as to show them that we incur heavy expenses on our daily transactions. Banks are eager to know ones liabilities rather than assets. If you have credit cards of more than one banks you can obtain easily the credit cards of another banks. There is no significant of FDRs to show the security for obtaining credit cards.

I dont understand to check the correctness of someone, what one has to see? his expenses or his assets. Todays criteria is that if you owe a liability of one banks you can easily owe a liabilty of many banks.

Banks are fools in their dealings they need to check the credibility of a customer not in the terms of his spendings but in the terms of their savings. I need to give an example of mine for applying the credit card. A Tele marketing girl wantedfrom me the credit card of another bank so as to give credit card of her bank. I explaind her about my Fixed Deposits standing in my name with her bank. She did not convinced and rejected my application for Credit card.

The ground is that dont save but spend a lot in the form of Loans, Creditcards etc to considered yourself to be more geniunine and accurate.