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Read the complete story here: https://www.thelallantop.com/news/modi-government-cuts-interest-rates-on-small-savings-schemes-ppf-sukanya-samriddhi-yojana-and-senior-citizen-saving-scheme-finance-minister-rolled-back/
The Modi government withdrew its order slashing interest rates on small savings schemes, including National Savings Certificates (NSC) and Public Provident Fund (PPF), for the first quarter of 2021-22. On Wednesday, the Finance Ministry had announced a sharp cut in interest rates for small savings schemes by 50-110 basis points. Interest rates for small savings schemes are notified on a quarterly basis. In a tweet on Thursday, Union Finance Minister Nirmala Sitharaman said that the interest rates of small savings schemes of the Government of India shall continue to be at the rates that existed in the last quarter (January-March) of the financial year 2020-21. “Orders issued by oversight shall be withdrawn,” Finance Minister Nirmala Sitharaman said. Watch the video to know more.
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