Please make sure that you read today's Editorial of BusinessLine.
ISROfef is too happy that atleast one responsible media is now raising the issue, though a bit late.
The issue is that of the bank rates going down. Now with the demonetisation of currencies, the inflation is heading south. This will now be followed by a sharp fall in bank deposit and small saving rates. Though this is certainly good for the national economy, its a serious problem for the depositors.
As we all know, most of the pensioners / senior citizens have deposited their funds, hoping and depending on its interest income. With the interest rates falling, we all, pensioners and senior citizens are in a serious problem.
This well known issue, however , is not in the eyes of our Government authorities. BusinessLine now writes :
With bank deposits and small savings rates likely to fall sharply, the Centre must consider measures to cushion Senior Citizens.
ISROfef is too happy that atleast one responsible media is now raising the issue, though a bit late.
The issue is that of the bank rates going down. Now with the demonetisation of currencies, the inflation is heading south. This will now be followed by a sharp fall in bank deposit and small saving rates. Though this is certainly good for the national economy, its a serious problem for the depositors.
As we all know, most of the pensioners / senior citizens have deposited their funds, hoping and depending on its interest income. With the interest rates falling, we all, pensioners and senior citizens are in a serious problem.
This well known issue, however , is not in the eyes of our Government authorities. BusinessLine now writes :
With bank deposits and small savings rates likely to fall sharply, the Centre must consider measures to cushion Senior Citizens.
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