SC to RBI: Why banks aren't passing on rate cuts on loans to consumers?

Petitioner ‘MoneyLife Foundation’ told SC while rate cuts are passed on to new borrowers, there is minimal or often no reduction in interest rates of old borrowers. The petitioner has claimed wrongful loss to consumers/borrowers is well in excess of Rs 10,000 crore for denial of every 1% of the benefit

from Times of India https://timesofindia.indiatimes.com/business/india-business/sc-to-rbi-reply-to-plea-over-banks-not-passing-on-rate-cuts/articleshow/66126944.cms

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