Congress leader, Renuka Chawdhary recently while addressing the Rajya Sabha lashed out at the Reserve Bank of India (RBI) for its new guidelines to banks, stating that individuals over the age of 60 are not considered creditworthy. As a result, they are being denied access to credit cards. This decision has sparked controversy and criticism from various quarters.Utilization of Senior Citizens SavingsDuring her address, Chawdhary said that despite being denied credit cards, senior citizens money in savings accounts will still be used by banks to generate profits. This contradiction has been labeled as bizarre by many, who see it as an unfair exploitation of older adults financial resources. View this post on Instagram A post shared by Congress (@incindia)India has witnessed a significant increase in longevity, with many individuals living healthy and active lives well into their senior years. The notion that being over 60 is a liability is outdated and fails to recognize the changing dynamics of aging in the country.Call for RectificationCongress leader Renuka Chawdhary has voiced strong opposition to these guidelines, calling them discriminatory towards elders. She insists that this behavior must be rectified immediately, emphasizing that senior citizens deserve the same financial opportunities as younger individuals.Meanwhile, it is important to note that this move by the RBI raises broader questions about the treatment of senior citizens in Indias financial system. As the population ages, there is a growing need to reassess policies and ensure they align with the current realities of aging. Financial institutions must adapt and offer products that cater to the needs and capabilities of all age groups.
