Cheaper Loans for De­fault­ers

The Economic Times - - The Edit Page -

This refers to the Edit, ‘Where Do You Save When Bank Rates Dip?’ (Aug 2). It’s iron­i­cal that while the gov­ern­ment ap­peases gov­ern­ment em­ploy­ees with reg­u­lar wage in­creases, it ig­nores the se­nior cit­i­zens who built the na­tion. The pub­lic sec­tor banks are re­duc­ing in­ter­est rates on de­posits to make good their losses aris­ing out of mis­man­age­ment of pub­lic funds. They ac­tively lend to those who bor­row pub­lic funds at cheap rates and hap­pily de­fault, with­out wor­ry­ing over the con­se­quences. The gov­ern­ment must step in to pro­tect se­nior cit­i­zens who strug­gle to build their re­tire­ment nest.

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