IDBI cuts retail deposit rates by 0.5 pc

[autoBOT]

In the first such move since RBI cut its key rates last week, state-run IDBI Bank on Friday cut its fixed deposit rate offering in two maturities by up to 0.50 per cent.



Fri, 10 May 2013 10:56:29 GMT
Read more here... http://businesstoday.feedsportal.com/c/ ... tory01.htm

[naveenarichwal]

95% of India works in Private sector, and they do not have any post-retirement benefits like the government employees.
Also the rate of inflation, high interest rates on Loans, Need a fortune for children education & Marriage, High bills that we have to pay for health as age progresses.
At time of retirement what ever is the savings and benefits like EPF have to be kept liquid,and safe and that is possible in Banks. And what is rate of return , this reduction of interest rates on Deposits is a direct Hit on elderly aged population of India,
As Health services will improve and spread a day will come that elderly and dependent population and how to give them a dignified life,will be the biggest issue , of future generations.