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Rohit pande , Have a view on many things but happy to thras Nov, 23 2016

In this age of surgical strikes, now one on deposit rates of banks.


SBI has reduced deposit rates by 2 % in one go


Does it become then a new battle between older and younger people - the savers and consumers


Would banks increase their spreads for profitability ?


So even if lending rates come down, it would be a smaller percentage point


what about people living on savings ?


With Rajan out of the way, not much ideological resistance now

SBI has reduced deposit rates by 2 % in one goDoes it become then a new battle between older and younger people - the savers and consumersWould banks increase their spreads for profitability ?So even if lending rates come down, it would be a smaller percentage pointwhat about people living on savings ?With Rajan out of the way, not much ideological resistance now

Paras Mahikansh , Happiness can be found even in the darkest of Nov, 23 2016


Indian trends are showing that the consumers are migrating more towards a credit card economy, thus it only made sense for the banks to reduce the % rate. Moreso, with the current move a lot of cash which was lying around is being deposited in the banks thus the net interest might still be the same!


Sneha Singh , CA by profession with a lot of interest in th Nov, 23 2016


SBI though is a private bank, yet it needs to take care of its profits. With cash coming in it has to disperse the interests, which probably will go too high this time. It only makes sense!


Shantanu Karunesh , Inquisitive folk Nov, 23 2016


Isn't the government is trying to act like a capitalist one? The government knows that all the cash has to be deposited into banks and thus is taking unethical advantage of this and has reduced the rates.

Higher interest rates have got nothing to do with it!



Rohit pande , Have a view on many things but happy to thras Nov, 23 2016


And on top of that, they have not allowed people to withdraw it too. Thus people are forced to keep money there against their wish. Only after restrictions are removed, would a true picture of India's trust on banks emerge.


Shantanu Karunesh , Inquisitive folk Nov, 23 2016


Precisely! Only after the so called 50 days only can there be any comment of Mr. Modi's intentions


Rohit pande , Have a view on many things but happy to thras Nov, 23 2016


Restrictions may well continue after 50 days also as money would get sucked out otherwise.

As for Mr Modi's intentions, I do not think that is an issue under the purview of a reasoned debate. Its more of an emotion.