[Resolved]  HDFC Bank — Not providing benefit of interest in terms of benefit given by RBI

Address:	Panchkula, Haryana
Website:	www.hdfc.com

Respected Sir, I have taken home loan from the HDFC Bank. But the Bank is still charging interest @ 10.05 whereas the RBI has cut the repo rate upto 1.25 level. This attitude of the banks defeats the very purpose of decreasing the repo rates for motivating he people to buy homes and thus the aim of the RBI to enhance the economic activities in the country remains just a dream. The banks give the benefits of reduced rates only to future customers. Whereas in case repo rate increases the burden is immediately transferred to the existing customers also. It is my request to the RBI authorities that that this benefit of repo rate should be directly transferred to the accounts of the borrowers, i.e., the existing customers also of all the banks. Otherwise, what is the use of wasting money for the benefit of banks which are already gaining alarming growth in their income levels as is evident from their quarterly/half yearly/yearly press releases. With kind regards, Ramesh Chander M. [protected]