The Hindu Business Line : `Banks must offer simple products'

Bankers should have plain vanilla products rather than complicated products, according to Mr Kaza Sudhakar, Chief General Manager of the Reserve Bank of India.

Speaking at a seminar on retail banking, he said that banks should charge reasonably and the customers should know the reason for being charged. "Retail boom can take place only when there is financial education," he said. All this should not be regulator-driven but banks should do it on their own, he added.

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