NEWS & ADVICE : FIXED DEPOSITS
Indians avoid bank loans due to Job uncertainty
By Neelima Shankar
Oct 17, 2013
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ASSOCHAM, the industry body said that most Indians are withdrawing away from availing bank loans because of the slowdown in the economy and the disbelief happened in job security. The survey of the industry body revealed that the economic slowdown greatly impact the industrial development and services thus creating job insecurity among youths that is working as a huge dampener. Individual borrowers are following an extremely traditional approach when a situation arises in availing bank loans against shares and bonds or fixed deposits.

In accordance with the banking information, advances against fixed deposits have dropped by 1.6% during the current fiscal year as against an increase of 20% between August 2012 and 2013.


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