as people have said it depends what level, but i think at all levels there is nothing wrong with a bit of banter, i know for a fact i don't mind being sledge it drives me and i feel as though if its got to the stage that fielders feel as though they can say something then i need to up my game and 9 times out of 10 i will do, and I'm not afraid to give it back, as long as its friendly and doesn't go too far then its not a problem for me.
The on 2 times its been a problem is when we were reported to the league for being "violent and abusive" because our opener hit 130* to win us the game and apparently he was intentionally hitting the ball at fielders and so they were getting abusive towards us, we had a few 12/13 year olds playing to make up numbers, in my opinion swearing is never on in sport especially with kids about, this "act of violence" came from them bowling short and wide and getting smashed all round so they weren't happy.
The second was my own fault and i was slightly naive however it bought us the lads wicket, i was at slip and made a comment how he had been beaten for pace 2/3 times by a 15 yr old lad and was asked if i wanted to "(no swearing please) step outside" , my reply probably wasn't the smartest, but was something along the lines of we are already outside.
However after these 2 instances i made sure the i shook hands with every single person involved first and as the games were over that was that.