Also, where floating rate loans are concerned, existing customers have been disadvantaged vis-à-vis new customers with similar credit ratings, resulting in complaints about discrimination. In order to address this malady, the Reserve Bank constituted a working group under the chairmanship of Deputy Governor Anand Sinha to determine the principles that must govern proper, transparent and non-discriminatory pricing of credit.
BIS central bankers’ speeches  1  As always, it is impossible to be sure, but it would not be unreasonable, I think, to draw the tentative conclusion that while these movements did reflect some underlying softening in the global outlook that was already emerging, the reaction was overdone.