Due to endless fraud on business owners, demand for loans decreases and interest rate on FDs also decreases

For the first time in a long time, the interest rate for FDs of more than 1 year has reduced to less than 5% in India
HDFC bank is offering only 4.9% interest on FD of 12 months and 1 day since november 2020
This is because banks are finding that the demand for loans has reduced
The real reason for the problems is that due to endless fraud on business owners, no one is interested in starting a business, the demand for loans decreases and interest rate on FDs also decreases