Impact of ‘rate cut’ on savers’ interests - Moneylife

Impact of ‘rate cut’ on savers’ interests - Moneylife



Excerpt:

"The impact of the rate cut on economic growth and the mood of international rating agencies and other stakeholders including foreign institutional investors (FIIs) will be analysed and researched by economists and media in the coming days. This article attempts to caution savers that their interests are at stake and perhaps, time has come when they have to be vigilant about the drain on their resources, which get invested in various financial instruments brought out by government, banks and corporates. 
 
This caution comes from a second reading of the announcement made by finance ministry on the same day RBI held the bi-monthly monetary policy review to the effect that government will review the interest rates on small savings, which ‘banks say, come in the way of lowering interest rates.’ "

Please read the full article and respond...

M G Warrier

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