The successive policy repo rate cuts by the Reserve Bank of India (RBI) since 2019 to support growth has left sections of the society nervous. The rate cuts are good news for the borrowers, but for depositors it means lower interest rates on their bank deposits. Bank Fixed Deposit (FD) rates have reduced considerably: from 8-10% per annum until a few years ago, interest rates offered on bank FDs today are around 5-7% per annum.
Nine big financial changes that you must watch out for in October
Read More