Days after RBI revised the Repo and Reverse Repo Rate, ICICI finally has reduced the rates. This offer is only for new customer as of now and it seems it will stay as it is. The country's second largest bank has not been so good with customers the way it used to be in the past. The customer who had taken the loan in earlier days feels more than cheated and are little with limited options. In days of glory ICICI did everything to get new customers. Its sales force was seen everywhere and it seems that they were literally throwing money at almost everything. This was the reason that almost everyone was getting loan even if it meant small variation in Documents. I have a friend whose loan amount was equal to his salary and he had not much documents to show his eligibility. However he still managed to get the loan – how , well only he and ICICI knows. This is thing of past but then this happened in many cases. The people who were finding it difficult to get loans from other banks could get easily from ICICI. Days changed and markets collapsed. ICICI was right in middle if storm and even had to face the heat of it. It’s shares got tumbled and there was a huge dent to its image. Nevertheless it managed to sail through but investors lost huge money in its stock. Seemingly this was the point when it might have looked at the quality of assets. I believe it has not reduced its home loan rates because of many reasons. Reasons could have been many but the main could be that it might have wanted some riskier assets to go out. Infact this has happening too. However the genuine people are suffering in the whole process. A person was really shocked when he saw that even after paying closer to Rs. 3 lakhs his Principal deducted was only Rs. 16 thousand in one year. At this moment all I hope that things will get good with time and interesting timeswould come again. Again I hope ICICI should manage to get its act clean and understand that there is a price associated with moving too fast.

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