Time to Move on from FD's to alternative Instruments
Finance minister Arun Jaitley has said conventional deposit rates and lending rate are very low, but powerful alternative instruments can earn lot higher returns."That is how the pension funds and sovereign funds are surviving and doing extremely well," he said, adding that now in india, as that opportunity expands and as a number of people with additional resources increases, you need a set of competent managers to manage.The finance minister was apeaking at the launch of State Bank of India wealth management services named SBI Exclusif. Jaitley noted that the convention was that bank deposits, or other government schemes, were probably the safest and best investment."It was certainly safe, but then the whole concept of economic system, banking system that paid high rate of intrest for those deposits were no longer relevant," he said.
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