The Hindu Business Line : Senior citizens' SOS

While the bank interest rates are increasing almost as fast as prices of essentials, sadly,many octogenarians are not able to keep pace with these frequent changes. They are in a constant dilemma about pre-closing their deposits in Post-Office schemes and the need to keep moving their investments around just to keep their heads above the tide of rising inflation.

Is it not high time to consider increasing the interest rates in the Senior Citizens Savings Scheme, other post-office savings schemes such as the monthly income schemes, and the LIC Varishta Bhima Plan?

R. Sundaram

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