2006-09-11 01:29:42 · 3 answers · asked by anishaugustine_ama 1 in Business & Finance ➔ Other - Business & Finance
It's a different economy for one. Many factors play into it, the stability of the currency, the condition of the government. The economic policy of the economy. I would think that India would be rewarding people to save money (through increased interest rates) because the overall Indian economy is in more of an 'upturn' than the US.
2006-09-11 01:43:22 · answer #1 · answered by words_smith_4u 6 · 0⤊ 0⤋
Interest rate in a country are linked to prevailing inflation rate in a country. In India the normal inflation rate is about 5% pa, therefore an interest rate of 6-8%. whereas in US the prevailing inflation rate is 3%, therefore money is available at about 4%. Before 1991, the inflation rate in India were in the range of 8-10%, and the interest rates 12-16%.
2006-09-12 00:06:58 · answer #2 · answered by nkbup2003 2 · 0⤊ 0⤋
both counties have different economical conditions
2006-09-11 21:16:00 · answer #3 · answered by rajan naidu 7 · 0⤊ 0⤋