Views Collection

Can saving be referred to as a vice rather than virtue. The top most successful bank in Nepal is the Standard Chartered Bank formally Grindlays Bank (hats off to the bank) is the only bank with a very low interest rate in savings. This is because they don’t want to encourage people to save their money. Rather than saving a penny, it should be invested upon some property where the capital would bear more rate of return. But some banks here still follow the traditional rule of encouraging people to save their money. It is in fact not good for the growth of economy. As the general public here is not familiar with such factor, which results in more saving than investing in certain property where there is no risk and believe that little but consistent rate of return is better. It is always good to invest rather than save in any economic sector anywhere. So you better don’t just save your penny, because it won’t do good for anyone.