You may go and read the contents of the 2nd screenshot
Ps: Actions speak louder than words and justifications. You remind me of 7th std kids who say ' No yaaar I don't like that girl, she is just a friend yaarrrr ' Everyone knows how much of a 'FRIEND' she is
Banks always take things to their advantage.
All mid-age gentleman would know that earlier banks used to give Saving account interest rate ~4%. Then RBI bring some policy so that banks are free to change their saving account interest rate. At that time in 2012-14 interest rate for all FDs and RBI bonds/lending rate used to be higher so RBI gave a free hand to Banks so that they can increase interest rate for saving bank account holders.
After a decade see what happend. All banks have reduced it to near 2.5-3.0%. They always use things that benefit them most. Govt. now-a-days is a mute spectator regarding financial decision of Banks.
Most often I read that PSUs now in profit that is because of govt intervention but why dont govt. tell banks to offer good interest for saving account holder? If account holder earn more means banks will earn less and vice versa. Corruption and Frauds are a different matter altogether. No one encourage that.
Hope someday, people will learn that its not the banks alone responsible for their lower interest income rather in-efficiency of current govt. (incl. RBI) for having a feast behind door indirectly through profit sharing at the cost of U and Me (account holders). They will offer u same money extorted from you then say look this is our efficiency that has brought this money. They will cheat u so efficiently that you can't even figure it out.
By the way, I like the OP's effort to educate others, as at least educated people could bring back some part of their lost money.
