The Resrve Bank of India's directive that all our deposits in savings bank account would earn interest on daily basis is coming into effect from today.Cheer up,depositors!
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This is very welcome. Now each days balance will earn interest and while withdrawing on any day, this will be kept in mind. Savings in saving accounts may boost.
G. K. Ajmani Tax consultant http://gkajmani-mystraythoughts.blogspot.com/
It is just an attempt to set right an anomoly.While the banks were earning interest from the funds lent to borrowers on daily basis, they were depriving the depositors the financial benefit.
Yes,Santosh,we are passing through hard times and the current inflation which is much on the higher side is making it difficult to save money.Anyway one has to save as much as one can to safeguard the future.
