Business Side effect of slowdown: Savings at 15-year low and it's a cause for worry - News Analysis News
pinky barot 200 1870 days ago Save one-third to one-fourth of your monthly income. This has been the wise advice that small town parents have long given to their kids going to big cities for taking up a job. As Union finance minister, Pranab Mukherjee, the former President, offered a similar advice. Addressing a corporate event in 2010, Pranab Mukherjee said, "There is a need to create awareness among the people to bring their savings in the national banking system in order to get better returns and for social security in their old days." His advice came at a time when the government needed money in banks to deal with post-2008 global slowdown situation.
