SBI cuts savings rates to 2.5%. Is it worth keeping money there?

The Banker to Every Indian, SBI slashes Savings Account interest rate to 2.5% - Is it even worth keeping your money there anymore?
The funny part, even this 2.5% is taxable!

With inflation beating returns and smarter digital payment options (Rupay on UPI, wide acceptance of Credit Cards), the traditional “Bank Balance” mindset is losing steam. CASA (Current & Savings Accounts), once the banks’ cheapest source of funds, is under serious pressure.
We would soon have our Finance Minister hold press conferences, highlighting the liquidity risk banks might face, thanks to household savings moving to other high-yielding options!

Smart investors are shifting to Liquid or Arbitrage Funds — better returns and more tax efficiency.

Time for banks to rethink how they’ll attract low-cost capital!