RBI bonds with lower 7.75-percent interest rate should be available with all bank-branches
It refers to central government deciding to replace 8-percent RBI bonds with fixed six-year maturity with new bonds with decreased interest-rate of 7.75-percent per annum. These bonds still remain the best government-sponsored savings-means even with reduced interest-rates. But people in general are not much aware these bonds, with their availability restricted to very few bank-branches of private and public-sector banks. Reserve Bank of India (RBI) and central government should ensure that these bonds may be compulsorily available at all branches of all public-sector banks abolishing hefty one-percent commission being paid to authorised brokers.
Private banks may be free to accept subscription to these bonds but with reduced net commission of just quarter-percent with no commissio...
