saving bank account holders to watch

• Around 41% of India’s population, those that have savings bank accounts with Indian banks will be a happier lot come April 1, 2010. This is considering the RBI’s latest directive to banks who have been asked to calculate interest on savings account balances on a daily basis rather than for the period between 10th and last day of every month as is the ritual now.
  This would mean that you’d get interest even if you keep money in your savings account just for one day in a month. Currently, if you keep money between the 1st and the 10th of a month, but withdraw it after that, you get zero interest even though the bank had your money deposited for nine days. While banks have been opposing such a move arguing that this would involve high levels of computerisation, the fact is that most of them now boast of technology implementation across 100% of their branches. And RBI has taken notice of this fact. .