Facing Massive Backlash, India Withdraws Order on Cutting Interest Rates for Federal Savings Plans

Apr 1, 2021 | EARNINGS

India on Wednesday ordered interest rate cuts on a range of federal savings plans, which are hugely popular among the country’s salaried class as well as other middle-class savers. The federal decision triggered massive backlash, prompting the Indian authorities to withdraw the controversial order barely 12 hours after it was announced.

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