They may have data of the world, but they didnt follow the procedure which was followed by other institutions ( at that particular franchises – with higher interest rates )
No home visit – big lapse in due diligence, in my view.
Some basic documents required were not asked – again lapse in due diligence for a vehicle loan.
For 2% interest difference, loan was given with minimal effort.
They may be a great company, but lapses are lapses. Over confidence of data is dangerous in my view.
since this message is not related to idfc, i will delete it after sometime.
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