Regulations: High Cost of Higher Interest

RBI’s action of pushing up interest rates on savings accounts is fraught with peril

The Reserve Bank of India (RBI) has made another dangerous move by freeing up the interest rates on savings accounts deposits. In an earlier argument against this, I had said that RBI should have, in fact, made this ‘zero’. Now, RBI has ensured a cut-throat race amongst banks, to fight for savings accounts...

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