Govt withdraws interest rate cut in small savings schemes, calls it oversight
The interest rates on such schemes will continue to remain as they were during January-March, reversing Wednesday’s highest cut of 1.1 per cent.
The interest rates on such schemes will continue to remain as they were during January-March, reversing Wednesday’s highest cut of 1.1 per cent.
The former finance minister said in times of acute distress and uncertainty about income, people depend on the interest income on their savings.
Interest rates for small savings schemes are notified on a quarterly basis. The latest deductions are done in line with a moderation in overall interest rate in the financial system.
As per the latest rules, the amount in PPF account will not be liable to attachment under any order or decree of any court in respect of any debt or liability incurred by the account holder.
In a move expected to coax banks to lower their deposit rates, the government has reduced the interest rates on…
The government has lowered interest rates on small saving schemes like PPF, Kisan Vikas Patra and Sukanya Samriddhi scheme by…
The government has lowered interest rates on small saving schemes like PPF, Kisan Vikas Patra and Sukanya Samriddhi scheme by…
