Bank FD interest rates touch 9.5%; now 47% of FDs held by senior citizens, why it is time to change taxation of fixed deposits - Deposit growth

Fixed deposit (FD) interest rates have reached 9.5%, with many banks offering competitive rates. Senior citizens are particularly benefiting from high FD rates, which can help in maximizing returns. The rise in interest rates is a response to the need for increased deposit mobilization and to attract more investors.