In my opinion, neither approach is sustainable in the long run. Improving bottom lines and preserving NIMs are the primary motives for the bank management, while making banking services accessible and the transactions affordable, has reduced to being a regulatory agenda. 19.
Ensuring fair treatment for the customers has become a priority for financial sector regulators globally and the regulatory framework is being tightened across jurisdictions. The expectation from financial service providers is that they display high levels of transparency in product design, pricing and financial disclosures. In addition, a credible, cost effective and expedient grievance redressal mechanism has to be made available to all customers.