Reclaim the deposits – Banks have a fight on their hands
Narendranath Menon What is common to banks in Zimbabwe, Venezuela, and Turkey? Well, they all pay interest of more than 35% for deposits parked in the banks. While Turkey pays 43.5%, Venezuela pays 36% and Zimbabwe a modest 110%!!! Phew. The runaway inflation in those countries warrants a decrease in money circulation. Attractive rates of…
