In order to create awareness and to facilitate the public in making informed decisions, it has been decided that henceforth banks/DFIs shall make complete disclosure of the lending and deposit rates of all consumer products offered by them by posting this information on their website as well as prominently displaying on entrance/ or window of their branches. In order to facilitate comparison, banks/DFIs would also disclose annualized percentage rates on all consumer products.

2. In case of deposits, the expected rate of return under the PLS system will be clearly indicated for each tenure. For lending products, Banks/DFIs shall also clearly indicate whether the rate is fixed or floating. In case of floating rate, in addition to mentioning the existing rate, the information regarding the tenure of the benchmark (KIBOR or any other rate plus a pre-defined spread) used and periodicity of re-pricing should also be disclosed.

3. The banks/DFIs, in addition to the above, will also take adequate measures to inform their customers about the intricacies of ATM, Credit Card and their charges as well as the cardholders’ obligations

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