Karthik Srinivasan, a digital marketer, has been tweeting out unethical practices by HDFC– India’s largest private bank–since the past 50 days. Srninvasan, a blogger with 25,000 followers on Twitter, has emailed the RBI’s Banking Ombudsman, all the Board of Directors of HDFC Bank, and has been tweeting to HDFC to draw attention to the unethical charges. Other aggrieved customers have also shared their details of feeling cheated by the bank.
Here is the unethical practice Srinivasan is referring to:
What he finds objectionable, is that the bank automatically signs you up for this programme and an opt-out link is mentioned only in the fine print at the bottom. The fee for this Virtual Relationship Manager is a steep Rs 400 per year. Srinivasan did read the fine print and opted out but is concerned about how many may not have.
After an email to HDFC, the bank said they had been “fair and transparent” but Srinivasan was not satisfied as he believed the bank was “using a devious opt-out way to deduct money from your a/c without permission.”
Srinivasan is not the only one who suspects this may be a huge scam. A blogger has claimed that HDFC and other banks are using “gaps and the loop holes in the banking regulations” to cheat their customers.
Srinivasan has not backed down. Since Feb. 1, he has been tweeting HDFC every single day. He said he will continue to do so till the end of 2017 or till HDFC apologises for their unethical practice.
— Karthik (@beastoftraal) February 1, 2017
— Karthik (@beastoftraal) February 2, 2017
It goes on..
Srinivasan reiterates the fact that he is not on a tirade against the whole bank, just this particular practice
— Karthik (@beastoftraal) February 14, 2017
Others share their experiences
— Karthik (@beastoftraal) February 21, 2017
— Karthik (@beastoftraal) February 24, 2017
— Karthik (@beastoftraal) March 6, 2017
Srinivasan throws some shade at Aditya Puri, MD of HDFC
Day 37: "Management is doing things right; leadership is doing the right things" -Pls do the right thing HDFC Bank https://t.co/ayDkFQbylj
— Karthik (@beastoftraal) March 9, 2017
Day 49: Invite-only, they said.
You'll be charged, they said.
'Here's opt-out link', they hid in email.
If not…! https://t.co/ayDkFQbylj
— Karthik (@beastoftraal) March 21, 2017
HDFC refuses to apologise. Today is the 50th day. You can read the blog about the entire experience here.