First advice HDFC
The RBI has asked State Bank of India to give some indications to home loan customers, borrowing under special 8% scheme, about future possible EMI increase. Fine. But RBI should advice HDFC to communicate its customers about methodology of calculation of it;s Retail Prime Lending Rate and the fact that it would increase immediately if RBI increases policy rates and not come down much even RBI effects a deep rate cut. They must show a comparison table for the past 5 years lending rates of HDFC , other public sector banks and RBI policy rates, so that their customers can aviod the trap set by HDFC in the name of good services . Unusal profits made in the unusual times do no service to the Nation, Mr. Deepak.
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