How borrowers are exploited by banks10 min read . Updated: 16 Oct 2017, 09:39 PM IST
When RBI cuts the repo rate, banks woo new customers with lower interest rates on loans, but refuse to give the benefit to existing customers
An internal study group of the Reserve Bank of India (RBI), chaired by Janak Raj, principal adviser, monetary policy department, has lambasted commercial banks for their non-transparency in fixing loan rates and graphically dissected how most Indian banks exploit borrowers.
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