Bank FD to fetch negative real interest with elevated inflation
The Hindu
The Reserve Bank of India (RBI), in its latest monetary policy review, has projected retail inflation at 5.3% for FY22
Senior citizens and others depending upon income from bank fixed deposit (FD) schemes will be at the receiving end with the retail inflation exceeding the interest rates.
The Reserve Bank of India (RBI) in its latest monetary policy review has projected retail inflation at 5.3% for the current financial year.
Last week, the RBI said that the Consumer Price Index (CPI)-based inflation is now projected to be at 5.3% for 2021-22 with risks evenly balanced.
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