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**Summary:**

The Indian National Congress is criticizing the Modi government for allegedly mismanaging the economy, leading to record low interest rates on savings accounts. Congress General Secretary Jairam Ramesh claims these low rates, driven by RBI repo rate cuts and bank policies, are hurting ordinary citizens, especially the elderly, while favoring wealthy capitalists. He accuses the Prime Minister of prioritizing the enrichment of his “capitalist friends” at the expense of the general public.

**News Article:**

**Congress Slams Modi Government Over Record Low Savings Account Interest Rates**

**New Delhi, June 25, 2025:** The Indian National Congress (INC) launched a scathing attack on the Modi government on Tuesday, accusing it of economic mismanagement that has resulted in savings account interest rates plummeting to a 25-year low.

According to Congress General Secretary Jairam Ramesh, recent policies, including a 1% cut in the repo rate by the Reserve Bank of India (RBI), have forced banks to reduce deposit rates, impacting everyday citizens, especially the elderly, with lower returns on their savings.

“In the last 11 years, the Modi government has left no stone unturned in ruining the country’s rapidly growing economy,” Ramesh stated in a post on social media platform X (formerly Twitter). He cited demonetization and other economic “experiments” as evidence of the government’s flawed policies.

Ramesh further alleged that the government is favoring wealthy capitalists, stating, “Banks have already closed their doors for the common people; after this, they will be available only to the very rich capitalist friends.” He accused Prime Minister Modi of prioritizing the wealth of his “capitalist friends” by diverting public money to their companies through the stock market.

The Congress party has consistently criticized the government’s handling of the economy, raising concerns about rising prices, stagnant wages, and decreasing private investment, all of which they say negatively impact the common person. The Congress views the low interest rates as another example of the government failing to protect the interests of ordinary citizens.

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