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Slashing interest rates not benefitting seniors

Wednesday, July 12, 2017

The Narendra Modi government has been slashing the interest rates on fixed deposits for senior citizens in all the banks and this measure will benefit big corporate houses who have given funds for  elections and the parties advertisements. But it is turning a blind eye to old people like me who have worked in the private sector and as a result, do not get sufficient bank interest and my family depend solely on the interest earned from fixed deposits for our sustenance. The prime minister Narendra Modi who talks big things and has not done anything for the old people who are struggling forsurvival under his regime for last three years as their life has become hell and he  needs to pay heed to their troubles rather than thumping his 56 inch chest and making foreign tours without looking at the problems of the people of India and other burning issues. It is high time the Modi government must increase the fixed deposit interest rate up to 10 per cent for senior citizens and have  mercy on them.

— Bhagwan Thadani, Mumbai

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