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There is a tug of war of sorts amongst public sector banks in respect of interest rates on deposits and loans. Banks are tailoring various schemes for the development of their business and to meet the requirements of customers at large. To communicate this, banks are placing advertisements in various newspapers even on the smallest score — for example, if they receive a simple certificate of excellence from the government or any private agency. Following changes in the repo rate and cash reserve ratio (CRR), banks have been advertising even miniscule changes in interest rates on deposits and advances. They are also erecting flashy flexi-boards at ATMs and their branch premises.

Banks should spend only a reasonable amount of money on ads. Moreover, the common man does not often appreciate or understand the use and utility of such advertisements.

Navin Chandra Sinha, Lucknow

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