The Monopolies and Restrictive Trade Practices Commission (MRTPC) has ordered an investigation into the non-transparent way in which banks are computing interest rates on home loans and how they discriminate between new and existing customers.
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Many banks are quick in raising interest rates whenever there is a slight increase in the cost of funds. But when it comes to slashing of interest rates, they wait for a considerable fall in the cost of funds before slashing interest rates by a small fraction.
Via India home loan.
Wow! I am really the wronged one!
