Customer Data Protection - A cruel joke!
Even when the regulators, Govt. and Law persistently advocate the Organizations like Banks, Insurance companies, Tele-service Providers etc who generally are with high numbers of customer, make it a point to take all (relevant or irrelevant) details from customers under the KYC regimen; to protect such data and not disclose; as a daily process of business the "confidential Data of the Customers" is ""SOLD"" for a price (undue riches).
Also, most of these Organizations take signatures on pre-printed blank forms where they incorporate several aspects under 'terms & condition" which are neither read nor agreed by the signing person though the signature gives the presumption that the signatory has read and agreed. There is a Supreme Court order that such pre-printed forms with blanks do not legally give the presumption that the signatory has read and agreed to the same while directing against such pre-printed forms.
When the data is 'sold' and also given to the so-called outsourced agencies of these Organizations; a whole world of tele-callers from marketing companies, so called collection agents and what not, keep calling (irrespective of DND registrations) and complaints to TRAI or service providers go in vain.
There is a data protection act but of no practical use as no police officer recognizes, no lawyer entertains and no Govt. / Regulator takes punitive actions except shedding crocodile tears.
The finer part of the turmoil is that the Organizations conveniently shift the blame on their outsourced agents to wash their hands of responsibility and consequential liabilities despite a Supreme Court order that any such act of an agent, DSA or outsourced BPO/Call centre becomes the responsibility/liability of the respective parent Organization which has employed the services.
So, where does one take one's grievances (grievance redressal fora imposed by regulators is another cruel joke) when day in and day out we are faced with such exigencies which assume criminal nature?
This happens only in India! more
Also, most of these Organizations take signatures on pre-printed blank forms where they incorporate several aspects under 'terms & condition" which are neither read nor agreed by the signing person though the signature gives the presumption that the signatory has read and agreed. There is a Supreme Court order that such pre-printed forms with blanks do not legally give the presumption that the signatory has read and agreed to the same while directing against such pre-printed forms.
When the data is 'sold' and also given to the so-called outsourced agencies of these Organizations; a whole world of tele-callers from marketing companies, so called collection agents and what not, keep calling (irrespective of DND registrations) and complaints to TRAI or service providers go in vain.
There is a data protection act but of no practical use as no police officer recognizes, no lawyer entertains and no Govt. / Regulator takes punitive actions except shedding crocodile tears.
The finer part of the turmoil is that the Organizations conveniently shift the blame on their outsourced agents to wash their hands of responsibility and consequential liabilities despite a Supreme Court order that any such act of an agent, DSA or outsourced BPO/Call centre becomes the responsibility/liability of the respective parent Organization which has employed the services.
So, where does one take one's grievances (grievance redressal fora imposed by regulators is another cruel joke) when day in and day out we are faced with such exigencies which assume criminal nature?
This happens only in India! more
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Mr.Palaniappan's concern about data leakage in banks is voiced by several account holders especially in SBI. The bank is forcing the customers to submit KYC forms which are given to outside agencies for a hefty price. These agencies sell the customer data to various other corporate agencies and customers will be getting unwanted calls, visitors. Instead of protecting the financial privacy of customers, banks have started selling the personal data to make money. The KYC form is specially designed by the RBI Governor to help corporates to buy authentic customer data from PSU banks. KYC is not a statutory form. PSU banks sell customer data to outsiders and hand over public deposits to corporates at cheap rates and create bad loans. more
May 26
Sir, This is not only case of criminal nature. There are many laws in the country which favors only the Govt./ Organisations wholly in their favour. As you rightly said this happens only in India and I am ashamed to say we are the most dishonest people in the world and misuse the laws. The wealthy and mighty loot the banks to thousands of crores and they are conveniently accounted as NPA's. Because of data theft I was hood winked and cheated for a credit card transaction by SBI AND FLIPKART. more
May 26
It is simple inbusiness everyone wants to make money by hook or crook. When there are buyers for these Data collected, it is appropriate for them to sell it and make something out of it. Customer 'Kasht se maro" is no concern. more
May 21
Mr. Chandrashekhar's comment/missive is apt and the right one too. Don't make haste that one may regret for life later. If it is your life and that of your loved ones, give more credence to them than such fraudsters like ICICI BANK (an FIR is finally {after over 7 years} is lodged against this fraudster and its gang u/s 420 (cheating), 467 (forgery of valuable property), 468 (forgery) and 471 (using forged docs as genuine in judicial proceedings to illegally influence the proceedings). If one pauses for a while and think, it is the banks that need 'loan' accounts to feed its employees and share holders. Hence, they indulge in all sorts of illegalities to make a mark in the market share of 'loan account' business. A defaulter does not just happen without the flaws of the overtly eager bankers or their DSAs etc. (where the bank is the ultimate responsible Organization as per Law). To meet their ends, these banks hire tele-callers throwing to wind the privacy protection aspect and it is no wonder that a person succumbs to such persistent overtures despite initially declining such telephonic offers etc. The bankers must be made to sweat to earn their emoluments as happens in the private sector and should not be allowed the luxury of so called 'outsourced agencies' which actually adds up to the cost to the account holder etc. The intended borrower must know to even get undesirable clauses removed from any alleged application form as precaution to avoid imposed clauses and consequences. more
May 20
I simply ask the person not to make haste ....leave the form with me ...i read each and every clause ...since it would be a major issue later on especially signing on insurance/health/nominees etc. And then i sign when I am OK with everything ....it is our decision if we want to sign a 100 page document or not ....no one can force us or influence us ...we do sign at times when we do not want to go through the "miseries" or hassles....now that is our problem more
May 20
