Making profit at the cost of depositors
Although banks have brought down the interest rates on deposit to 5-7 percent, the rates on lending remains as before or even higher.
Although banks have brought down the interest rates on deposit to 5-7 percent, the rates on lending remains as before or even higher. This means the banks are making more profit than before at the expense of the depositors. With inflation at around 6 percent, the depositors are getting nothing. The government should look into this matter.
Luthfe Ali
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