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Lowering of interest rates only escalates bank profits – by Sunil Thenabadu The motive of the government decision to lower the interest rates of deposits was predominantly to engross the banks to lend at lower interest rates  for entrepreneurs to boost the economy of the country which is in dire straits.However would this proposal prove productive?  Owing to this absurd stunt has left the senior citizens and pensioners high and dry resulting in unprecedented agony and anguish.Many who are victims have  highlighted to the media  the grievances on behalf of so many distraught senior citizens and pensioners particularly as many  have no access to the media. This much spoken of government’s harsh decision to lower interest rates has made the lives of senior citizen’s and pensioners miserable with escalating high cost of living, Skyrocketing  cost of medical expenses etc.It is pertinent to mention that monthly interest rates on fixed deposits which they mostly rely upon have been reduced to alarmingly low 4% and 5 % which has added to the woes already the senior ...