I took a Loan Against Securities (LAS) from ICICI Bank in 2003. The starting rate of interest (variable) was 7.75%. In the last 1.5 years alone, the RoI has increased by 6% to 13.75%. When ICICI Bank has increased the rate nearly two fold due to market conditions, it is unwilling to reduce the same when the markets have been falling. They replied stating that this is one of the lowest rates in the industry. I agree, but I dont understand why they could only increase the rates in line with the markets and not decrease even after the RBI announced a slew of economic measures to alleviate the burden of the consumers. I tried escalating my grievance as per ICICI\'s escalation matrix, but to no avail. I have also forwarded my complaint to the Banking Ombudsman, but have not heard from their cell till now (3 weeks). I would be glad and thankful if my grievance could be redressed through this forum.