| Thursday, 08 December 2022 |
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Good morning [%first_name |Dear Reader%],
“Sugar and spice
And all things nice
That’s what little girls are made of”
A few days ago, a friend was blessed with a baby girl. I was thinking about what to gift them when we next meet and it struck me that maybe I could write about a useful investment they could make. A gift that would keep on giving for many years to come.
Say hello to the Sukanya Samriddhi Account.
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A little girl’s best friend
Yesterday, the Reserve Bank of India (RBI), the country’s central bank, raised its benchmark repo rate by another 35 basis points to 6.25%. So bank deposit rates could go up further.
Already, banks have hiked deposit rates quite a bit these past few months. Some now give 7-7.5% interest for two- to three-year deposits. A few small finance banks even offer 8% or more.
That’s nice.
You know what’s nicer?
