....In the present scenario, when the depositors are sandwiched between rising prices and limited options for higher earnings from savings, banks themselves would be thwarting their low-cost and stable resource base. This will escalate the savings in physical assets and promote current consumption by households which does not augur well for the country. It may be mentioned that banks are facing a slow growth rate in their aggregate deposits which as on August 10 (y-o-y) grew by 14.3 per cent, much less than 18.5 per cent recorded in the similar period last year (Source: RBI WSS, August 31, 2012). Will the RBI look into this and come to the defence of the middle class bank depositors?
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