Deregulation of interest rates on savings bank account will only prompt customers to move from one bank to another, rather than bringing in new customers into the banking system, said Mr K R Kamath, Chairman and Managing Director, Punjab National Bank.
“People who do not have money in savings account of any bank might not even know what interest rates it offers. "So it (the deregulation) will only benefit exisiting customers and prompt them to move from one bank to another for higher rates,” Mr Kamath said at the Bancon here on Sunday.