As recognised in the draft report, the ECB’s monetary policy – which is designed to fulfil our primary objective of maintaining price stability – has continued to be successful in anchoring inflation expectations at levels consistent with price stability, despite a number of challenges, in particular relating to the continued strong surge in oil prices until the most recent period of time.
I have no idea how the banks’ cost of funds comes down during festivals. You may choose to waive off processing fee, which is transparent, but how can the rates come down? Similarly, there are several instances of levying charges without providing any additional services such as charges for non-maintenance of minimum balances, cancellation of demand drafts, prepayment penalties, intersol charges, etc.