Banks are not passing on the benefits to customersRecently, RBI in its monetary policy announced rate cuts which means banks will get funds from RBI at a reduced rates.
In such cases generally the banks also reduce rates on the loans and benefit is passed on to the customers. But there is no sign of such a gesture from any of the banks in our country. In fact they are telling that their maintenance, infrastructure and running costs are increasing and it is not possible for them to reduce the interest on loans.
So even after rate cut customer is not benefited. What do you think about this matter? What could be the reasons for banks not resonating with RBI rate cuts.