Depositors body wants banks to take a cue from Govt and not cut deposit rates thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
‘Depositors reeling under the impact of interest rate cuts’
January 24, 2021
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The All India Bank Depositors’ Association (AIBDA) has told the Reserve Bank of India (RBI) that depositors are reeling under the impact of interest rate cuts and that there are no compelling reasons for it to reduce the repo rate.
In its pre-monetary policy representation to the RBI Governor Shaktikanta Das, AIBDA also underscored the charges imposed for debit card use when transactions are declined at ATM or POS due to insufficient funds in the account should be rationalised.
Further, the association requested the RBI to review its extant instructions to Payment Aggregators (PAs) and Payment Gateways (PGs) to ensure that these are not exploited by these entities to engage in profiteering.