Banks should have taken the Reserve Bank of India’s (RBI’s) intended message on teaser loan rates, said Deputy Governor Usha Thorat today in response to a question on whether there was any headway in the teaser loan rate issue.
“I think the banks should have taken whatever message was intended,” she said on the sidelines of an event here.
Thorat had earlier said the RBI is concerned over the teaser loan rates banks were offering under festival schemes. In a bid to increase credit offtake, banks have been offering home loans with a dual rate structure where customers are initially charged lower interest rate and subsequently the prevailing rate.
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