From April 1, 2010 banks will be paying interest on SB accounts on a daily basis. But the impact of this to the account holders may not be significant as the interest rate is very low for SB accounts and the money kept in the SB accounts also not that high.Then what is the idea behind this move? Your views?
But there are also substantial number of elderly persons in this country who do not believe in blocking their money in different intstrments of investments including FDs for the reason that, they always anticipate an emergency where they can quickly pull out the money. One must remember that, a whole lot of these population mentioned remains in other parts of the country and may not have access to the same kind of facility like in metros and may even be averse to using cred ...more
But many banks are also thinking of other ways for betterment and now we have to see how all goes..in later years..