Bank FD Rates Down after Demonetisation
The government’s move to demonetise Rs1,000 and Rs500 currency notes, to curb black money from the system, will also lead to lowering of bank fixed deposit (FD) rates. Banks have been sending SMSes urging customers to visit their braches to deposit cash. The cash deposited by customers will lead to less cash in customers’ hand and improved CASA (current and savings account) money for the...
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