Reducing finance interest
On 15th May, with one stroke of the pen, the Central Bank (CB) cut the interest rates on fixed deposits in banks and finance companies. All finance companies reduced the interest to a single digit. The National Savings Bank (NSB) too reduced its rates immediately from 11 per cent to 7.75 per cent. That means the income from a Rs. 100,000 deposit was reduced to Rs.7, 750 from Rs.11,000 a year. Go to any NSB branch and one would notice the anxiety on the faces of miserable old citizens when they realise the interest on their worldly savings has suddenly and drastically dwindled to a bare minimum. They feel that part of their meagre income is being fleeced by the government to give low interest loans to multi-billion projects, not caring for the well-being of their senior citizens. It is like “Robbing Peter to pay Paul,” or “Hitting the poor man below the belt.”
During Wesak a few days ago, a priest while preaching Bana, reminded the devotees, that The Buddha said, “Matha Pithu Upasthan”, (Look after your aged parents). Even Jesus Christ said “Honour Thy Parents in their old age.” Are these empty words to be heard and forgotten till next Wesak?
The senior citizens humbly beg of the President and the CB Governor for a reasonable livable interest rate so that they need not be a burden on the government, society and their children.
This appeal is made on behalf of thousands and thousands of decrepit senior citizens who are helpless to appeal on their own to the powers that be.
D.L.Sirimanne,
Kohuwela