While reading this wonderful editorial by Ila Patnaik,
Who stops banks from serving the aam aadmi? More than unions, it’s control-obsessed RBI. And banks love it
A few more questions popped into my head.
1. Why do banks advertise higher interest rates for Senior Citizens and NRI?
Shouldn’t the terms on a Fixed deposit be uniform? Or the government knows that at old age there is a memory loss and a large percentage of the funds collected under old age scheme shall never be refunded.