RBI wants data of all the banks on its website

RBI has told banks to display all the information related to fees, interest rates, yields etc. on their websites. RBI plans to explore the options of displaying a consolidated data of all the banks on its website to have glossary of common terms. This will help the common man enormously to find authentic data in relation with fees, interest rates, processing fee etc. It is likely that even customers who have defaulted can have access to multiple credit cards. Hence, RBI recommended Financial Literacy and Counseling Centers (FLCCs) to collect detailed information from bank which has the largest default borrowers.