Sadly, they lose sight of customer convenience, product suitability and blatantly indulge in mis-selling. 12. Pricing of products is an area which gives rise to numerous customer grievances. This is because banks have not adopted a transparent cost-plus approach to pricing. Instead, more often it is dictated by the bargaining power of the customer and the competitor’s prices.
Specifically, pricing practices followed in case of floating interest rate based products is replete with instances of lack of transparency and fair play.