the following is my suggestion for improving banking system of our country.
all bank account opening , except that of savings account should be charged but the interest rate being given by the bank to the customer should be able to beat inflation , the interest rate should be pegged or linked to inflation rate of the country(i.e. if inflation rate increases , interest rate increases and vice versa).also all other kind of banking services should be completely free of cost.
if interest rate hiked they will hike loan interest which is not good for economy
i am talking of the interest being provided by the bank to its customers and not the other way round.
Agree with Manoj G,
No one would want to increase their cost.
If interest rate payable on deposits hike then definitely Interest rate on loan will increase.
Subrahmanyam & Sivudu CA Firm
Hyderabad
CA Inter
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