Suchitra Kamath, a 54-year-old conservative college professor in Mumbai, till recently knew and trusted only one way to secure her financial future — bank fixed deposits. Three decades of satisfactory returns with guaranteed return on capital is giving way to worries about whether she is on the right path to secure her future given that monthly bill payments are on the rise.
The rapid fall in deposit rates in the last one year has shaken her belief in her favourite instrument for investments. Although she has been contemplating a shift to alternative ways of parking her surplus, the process quickened after demonetisation as banks sharply reduced deposit rates.
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