High interest rates hit post offices
High interest rates offered by commercial banks has weaned away large number of savers from post offices to banks.With no control over market interest rates finance ministry officials are hoping that interest rates would soften in the coming weeks.They say that this is the only way to get savers back to post office schemes as any move on the part of the ministry to tinker interest rates on small savings will be taken as a long term signal by the market.
