..........Don’t believe me? This is what K.C. Chakrabarty, Deputy Governor of the Reserve Bank of India, had to say on the matter in the course of a speech he delivered in Udaipur earlier this month: “Our experience in India demonstrates that the pricing of the products and services — both on the liability as well as on the asset side — are heavily weighed against the retail customers as a group.” Translating for bankerspeak, what the person tasked with overseeing banks is saying is that whether it is relating to deposits (liabilities) collected from retail customers (you and me) or loans (assets) extended to them, the terms of trade are all on the side of the banks. In other words, you are not getting a fair price for your money, and you are not being charged a fair sum for your credit............
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