I can understand that the Banks are not there for charity. But I fail to understand one thing when the interest rates go up they increase it citing RBI guidelines. But when gudelines say to reduce it, it must be passed on to the customers, be it old or new customer. Offering a lower rate to new customer and ignoring old ones is not fair. This is a plain cheating by the bank be it ICICI Bank or any other bank.
I completely disagree that this is a fair business ethics.
