.........Whenever, RBI comes with dictates like stopping usurious charges for maintaining minimum balances or banning the pre-payment penalty on loans or credit card late fee payments, it is actually a castigation on banks in general and IBA in particular. Does IBA not feel that such immoral charges actually damage the good public image of banking as a service industry? If it feels so, then what action it has taken to stop banks from charging fees which have to be banned by RBI ? If they feel that banks were right, then why IBA has not the guts to protest against RBI dictates. I am of the firm view, RBI must censure IBA for being mute spectator to such fleecing of customers by banks...........
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