Slashing of interest rates on small savings of senior citizens

 It seems that reduction of interest rates on deposits is inevitable. If that is  so we request you to kindly spare the senior citizens from this move. There are now around 10 crore senior citizens in the Country most of whom survive on the interest income from their small savings in Banks. These days their mere survival has become a challenge with dwindling interest income and galloping inflation.  Further reduction in interest rates, as proposed, will only add to their misery. It is a rude shock.

 We therefore, humbly request you to kindly spare the deposits belonging to senior citizens from any further reduction in the interest rate. For the last many years we have been demanding 2% higher interest on our deposits which was never granted. We now only request you, at least not to add to our problems of old age by axing our existing inadequate income by further reducing interest rate on our savings.

 We hope you will consider our request sympathetically specially because we are a segment of society which is highly vulnerable to such economic pressures.