Other banks are expected to follow.Thanks to the Reserve Bank of India (RBI), banks have moved to an external benchmark-the repo rate that is variable-to fix interest rates for their borrowers. SBI said that the rates have been cut 'given the surplus liquidity in the system'.According to an SBI report, it is estimated that currently there are about 4.1 crore senior citizen FD accounts with about Rs 14 lakh crore in aggregate parked in them. Now inflation is below 4% and deposit rates are in the range of 6-7% which means that real interest rates have not moved much," he said. He added that the feeling of discomfort is because people are not accustomed to low rates. "The other angle is that if the economy does not grow, everyone will be at a disadvantage," he said.The move to sub-6% FD rates, however, looks inevitable.