New Delhi: The government on Tuesday steeply cut interest rates on various small savings schemes in line with sharp cut in policy rates announced by the Reserve Bank of India on Friday where it reduced repo rate by 75 basis points. Accordingly, rate on interest on small savings schemes such as the Kisan Vikas Patra, […]
Tag: Small Savings
Government cuts interest rates on small savings
New Delhi: The government has reduced interest rates of small savings schemes by 10 bps for the July to September quarter. “On the basis of the decision of the government, interest rates for small savings schemes are to be notified on a quarterly basis,” the Finance Ministr y said while notifying the rates for the second […]
Small savings: PPF, NSC rates cut to 7.6%, for KVPs to 7.3%
New Delhi, Dec 28 (IANS) In a move expected to coax banks to lower their deposit rates, the government has reduced the interest rates on small saving schemes, including National Savings Certificates (NSCs), Public Provident Fund (PPF) and Kisan Vikas Patra (KVP), by 0.2 percentage point for the fourth quarter of the fiscal (January-March). The PPF […]