“15% for Rs.1.5 mn deposits by senior citizens”
Letter
View(s): I refer to the story which appeared in Business Times on March 27, 2016 regarding the provision of 15 per cent interest on a deposit of Rs. 1.5 million for senior citizens in finance companies. It is a case of “No Action – Talk Only” (NATO). It seems implementation of this scheme is a difficult task, like getting hair from a tortoise shell. Mr. Governor of the Central Bank (CB): Please wake up! Is there a powerful force behind in preventing the issue of the much-needed circular by the CB to finance companies and financial institutions to implement this scheme?
Very disgusted Senior Citizen in Galle