Banks need to reduce cost, pass benefit to customers, says RBI

Indian Banks will have to reduce costs by increasing their efficiency and pass on the benefits to lenders and depositors, the Reserve Bank of India (RBI) on Thursday said in the Trends and Progress report for 2011-12. “The challenge before banks is to make the best use of technology and innovation to bring down intermediation costs while protecting their bottom lines. The challenge for Indian banks is to reduce costs and pass on the benefits to both depositors and lenders,” RBI said...........

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