The question is whether we, the citizens of India, 9,00,000 of whom have to survive on Rs 25,000 for the next six months as PMC Bank depositors can’t withdraw more following an RBI diktat, have the right to know the names of the 220 defaulters and if any of them bought a new luxury car this festive season.

The citizens include senior citizens, many of whom depend on retail fixed deposits to survive. We also know that SBI, two days back, cut interest rate on savings accounts with balance up to Rs 1 lakh to 3.25 per cent from 3.5 per cent. SBI has a deposit base of over Rs 28 lakh crore. SBI has also cut interest rate of retail fixed deposits or FDs by 10 basis points for ‘1 year to less than 2 years’ maturity with effect from October 10, 2019.