Bad news for small savers
There won't be any cut in interest rate of Small savings schemes . Yesterday's decision to lower the interest rate is REVERSED more
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You do not have to blame the Babus. They will act what ever good or bad is conveyed by the Minister. After all they are Yes boss people and take the blame on them more
Apr 02
True. It could be keeping in view the current elections. Through these circles, we are requesting the Govt. to protect interests of at least senior citizens to lead a safe and secured financial support. It seems it is not bothered about Sr. Citizens at all. Most of the people may save in these instruments for tax savings etc., but Sr. Citizens basically for protection. Could not understand that the Govt. is considering sr. citizens as citizens and they have certain obligations to protect. Sr. Citizens are not asking for heaven! They are asking only for secured and safe protection of their hard earned savings and to lead a decent and peaceful life before end of their life. Many requests have been made to keep Sr. citizen savings schemes for life time as they will not have any other source as many are retired middle class employees. They paid taxes during their services, without any return now. Govt. should consider on humanitarian grounds the following: 1. To continue the sr. citizen schemes for life and not to disturb rate of interest etc., detrimental to them. 2. Provide good medicare to all sr. citizens at reasonable cost, as most of them are earlier tax payers, as medicare became beyond reasonable cost and most of the sr. citizens require. Requesting our circles to take a movement by articles and voting to make some move in authorities concerned. more
Apr 01
This shows that FM has no control over bureaucrats in Finance Ministry. A move like this which affects all citizens of India and more so Senior Citizens is made without prior consultation with the Finance Minister. It appears that the said notification was issued by bureaucracy who does not like PM and BJP to influence voters in Bengal and Assam not to vote for BJP. This news of reduction in interest rates of small savings has appeared on front page of newspapers. more
Apr 01
Sir, it is not clear whether, your above said post blaming bureaucracy is based on facts or an assumption. I do not think appropriate to pass on judgements based on assumptions and blame bureaucracy. If it is based on facts, it is unfortunate. Regards. more
Apr 01
