Lower Bank Interest Rates – Savers Lose, Borrowers Gain

Lower Bank Interest Rates - Savers Lose, Borrowers Gain
Photo courtesy: LiveMint

As wholesale and retail inflation rates come down, Reserve Bank of India like reserve banks around the world lower policy or benchmark interest rates. In India, fixed deposit rates are down from nearly 10% to below 8% for one or more years, and this clearly hurts savers and retired people living off these savings. On the other hand, borrowers from the government to those for car and house loans to small and large business borrowers also get lower rates and that helps build their business. The reverse was also true. In fact three and five year fixed deposit rates in the west are below 3% at best.

Source: LiveMint

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  • 17 Jun 2016
  • WerIndia

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In 1989-90, with Rajiv Gandhi as PM and Farooq Abdullah as CM, 400,000 Kashmiri Pandits, Sikhs & Others FACED GENOCIDE - were slaughtered or forced to leave Kashmir overnight. "The Kashmir Files" shows only a small part of this. Should a Kashmir Genocide Law be made and the atrocities be fully investigated?

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