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RBI pushes for cut in small savings interest rate

RBI pushes for cut in small savings interest rate

Wednesday, February 8, 2017, 6:19 PM

RBI has decided to follow a wait and watch policy on the impact of demonetization. RBI has chosen to keep the repo rate unchanged at 6.25%. RBI was widely expected to cut repo rates by 25 bps, but has chosen not to do so. RBI is pushing for a cut in small savings rates which is not good for people keeping money in them.
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