Letters to the Editor - Moneylife Whose money is it, anyway?
Letters to the Editor - Moneylife
Whether the institutions be in public or private sector,
BANKS'
‘RESOURCES COME FROM THE PUBLIC’
This is with regard to “Making Banks Accountable to Retail Customers”
by Sucheta Dalal. A well-researched analysis. The costing and pricing of
products followed in the financial sector is no different from what the
MNCs (multinational companies) follow for most products. The objective
always is to profit from every transaction. What banks often forget is
that their resources come from the clientele–the public they are
expected to serve. When regulatory bodies are not able to work on the
same wave-length, the situation is taken advantage of by vested
interests.
MG Warrier
Whether the institutions be in public or private sector,
BANKS'
‘RESOURCES COME FROM THE PUBLIC’
This is with regard to “Making Banks Accountable to Retail Customers”
by Sucheta Dalal. A well-researched analysis. The costing and pricing of
products followed in the financial sector is no different from what the
MNCs (multinational companies) follow for most products. The objective
always is to profit from every transaction. What banks often forget is
that their resources come from the clientele–the public they are
expected to serve. When regulatory bodies are not able to work on the
same wave-length, the situation is taken advantage of by vested
interests.
MG Warrier
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