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FM Sitharaman Pushes Banks To Make FDs More Attractive For The Young | MINT Explains

Mint 20



An entire generation of millennials, genzs have been pursued through mass media, influencers, or modern day internet, with a notion that FDs , although safe, do not give as good returns as other avenues like equities of MFs. And that has started worrying banks and the FM. In a recent meeting with the heads of the PSBs the FM highlighted data by SBI Research suggesting that bank deposits, traditionally favoured for their safety & liquidity and losing their appeal amongst younger investors.

#fixeddeposit #investing #nirmalasitharaman #finance #rbi #shaktikantadas #sharemarket #share #stockmarket #stockmarketnews

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20 comments
@ags3785

Ofcourse FM and RBI governor have now realised that people will not believe them any more, afterall their pervert attitude towards common people

@anupamsikdar1613

Govt.bank give 7 percent and cut tds.why people will invest in bank.People get long term benefits more than 7 percent in mutual fund swp and 1.25 lakh long term capital gains.

@hermesinnovator3170

Ab FD ke peechhe pad gaye ? inase achhche to angrez the kamse kam ghar ke gade sone pe to tax nahi lagate the.

@premsiddharth4809

If the govt is ready to give 10 % interest for deposits upto 10 lakh by every individual, there will be huge fds in psu banks

@KinoInsight

The rich dont do FDs since they want to multiply their money

The poor dont have money to save

The middle class is unable to make FDs since they are taxed for everything except for sunlight, air and rain!
When the middleclass is unable to save money since they are over taxed if they earn, spend or save, price rise – why will they save in FDs?

The current FM is to be blamed for this situation.

The middle class today earns & pays tax, spends and pays tax, saves and pays tax..

And to top it all – the banks charge for every service. So why should the middle class save in FD?

@KrishnamurthyManjarabad-cb2zv

Reduce IT tax considerably, incremental changes won't do

@hemanthkumar5438

My tax slab is 30%, So people like me will only get 4.9 % return on FD,
Why the fuck would i lock up my money in FD for an year to get this miniscule return?
To feed the fucking government and his mf friends?
🤬

ps: don't forget the yearly inflation of 5.49%, that only means FDs are net loss

@rib-rh2md

Only freebies and caste reservation