Photo: Pradeep Gaur/MintWho has lost the most from the reduction in policy rates by the Reserve Bank of India (RBI)? Obviously, lower interest rates have helped borrowers. Banks have been reluctant to pass on benefits of the reduction in policy rates in full to customers despite RBI governor Raghuram Rajan’s repeated appeals. Those who keep their money in bank fixed deposits have lost the most from the reduction in policy rates by the Reserve Bank of IndiaBanks have been reluctant to pass on benefits of the reduction in policy rates in full to customers despite RBI governor Raghuram Rajan’s repeated appeals. As the chart shows, the interest on FDs of tenures more than one year has come down from around 9% to 7.5% in the last couple of years.

Source: Mint June 15, 2016 02:23 UTC