ICICI denies credit card to a lawyer because of his profession

Last updated on Feb 11, 2008

Posted on Feb 11, 2008

Many people make fun of the lawyers but that is where most stop.  Recently I have come to believe that the Indian Banking system is not only being governed and run by greedy people but those who are thoroughly unscrupulous.  However, even I was not ready for this kind of shock.

ICICI leadership apparently wears its hatred for the Indian lawyers on its sleeves.. or its rule books, as it were.  It has been slapped a fine of Rs 1 million for discriminating against the Law profession!

ICICI Bank again has been fined by the Delhi Consumer Commission of Rs 10-lakh and this time for not issuing credit card to a lawyer for a “negative profile” profession.

OUchh!  That almost places them in the category of criminals (maybe not) or even drug smugglers… but it is intriguing that the company which started the first Credit Rating agency in India for companies – CRISIL – has such rating inputs!

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