Don’t ignore depositors - The Hindu

Don’t ignore depositors - The Hindu

My VIEW:



A well argued, balanced article. So far, while RBI's rate cut quickly results in a downward revision of interest rates on bank deposits, the effect on lending rates have been slow and not uniform. There may be valid reasons, including lesser dependence by banks on borrowing from RBI. But the focus of this article should not be missed. As former Deputy Governor of RBI S S Tarapore once observed, when it comes to raising interest rates on even Savings Bank accounts, there is 'cartelisation' to deny benefit to depositors.

M G Warrier, Mumbai

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