Why banks don’t issue credit cards to journos

Like lawyers and policemen, software professionals and self-employed businessmen, (most not all) Indian journalists are denied credit cards by banks. Because, says rediff.com founder Ajit Balakrishnan, “They believe they have heard of enough cases of delinquent journalists who have written negative articles about his “harrowing experience” in an attempt to evade the bill collector.”

“Perfectly credit worthy people are denied credit cards merely because they are ‘profiled’ as belonging to a category. And bill collection is governed sometimes using the laws of the jungle…

“The consequence of all this is India has just ten million active unique credit card uses where this by any account should have been closer to fifty million.”

Read the full blog here: If you are Sikh, Muslim or a journalist

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