.....RBI has been generally uncomfortable with teaser products. RBI Deputy Governor K C Chakrabarty, whose current portfolio includes department of banking supervision and customer service, had red- flagged teaser products way back in February 2010 with: "Don't just tease new customers, also tease old customers by charging a uniform rate for both." The comment was in response to teaser loan products launched by the country's largest bank, State Bank of India. Many other banks and housing finance companies had been forced to introduce similar products to protect their market share. The apex bank's latest salvo seems to be in line with this.......
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