The working class and the middle class of this country are grateful to the President for exercising his authority in reducing the interest rates of banks and other financial institutions. His timely, meritorious and far-sighted action will help to promote growth and prosperity.
It is regrettable, however, that our senior citizens, especially those who worked for the private sector, feel ignored or forgotten. These people survive on the monthly interest they get from the money they have placed in fixed deposits. Most of them are advanced in years, and many are feeble and sick. Some even have dependents.
The authorities should give thought to this helpless category which now get a meagre monthly interest of 8 per cent, less than what they got before. For them life is difficult, and sometimes almost impossible.
H. B. N. Harischandra,