The SBI was the first bank to announce a special FD scheme for senior citizens called SBI 'WECARE'. Similarly, HDFC Bank as well as ICICI Bank Bank have also come up with --HDFC Senior Citizen Care FD, and ICICI Bank Golden Years, respectively

According to the latest revision, ICICI Bank tax-saver FD (max up to Rs 1.50 lakh) will now fetch 6.60% interest to general citizens and 7.10% interest to senior citizens

New FD rates vary from 3.50 per cent to 7 per cent on deposits for general customers, depending upon investment and period of deposit

The rates start at 4 per cent to up to 7.50 per cent for senior citizens for deposits up to Rs 2 crore.

According to PNB's official website, the bank has lowered the interest rate on maturities with tenure of 7-14 days and 15 to 29 days.

The interest rate hike comes into effect a week ahead of the bi-monthly meeting of RBI's monetary policy committee scheduled for December 5.

Ever since RBI's last policy meeting on January 25, where it raised its benchmark rates, almost all the banks have hiked their deposit rates.

Many investors are convinced that after the Sensex plunged 41% in six months, the key indices can fall no further. It looks like they could be right. Can things really improve?

For too long now, the pension sector has been a woefully neglected stepchild for everyone—government, regulators and investors. Now, hopefully, the first step towards pension reforms has been taken.