Bank Daily Deposit Scheme
Interest not given on the scheme

The small shopkeepers/investors are depositing a small amount on Dalily basis with the banks say Rs. 10/0, 20/-, 30/- 50/- per day. The amount is usually withdrawn after a certain period with min. of 1 year and only the amount deposited in total is refudned at maturity. Ever since, RBI has announced the interest on daily balances in savings accounts, the same should also be applicable to such savings. If not equivalent to savings account but atleast to encourage savings and add value to investor's money with the bank