India Business News: The Indian government made important changes to its small savings schemes in 2023, introducing a new scheme, adjusting investment limits, and changing
The government has made various changes under small savings schemes in the year 2023. Here we have listed some of the major and important changes made by the government.
Invest in this India Post scheme that offers 6.6% annual interest - Know details here - The minimum amount for the opening of an account under this scheme is Rs 1000 and the deposits will have to be in the multiples of Rs 1000.
Post Office Small Savings Scheme: From PPF, Sukanya Samriddhi to NPS, check minimum balance requirement in all the 9 savings a/c india.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from india.com Daily Mail and Mail on Sunday newspapers.
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Q. I am a retired senior citizen, aged 71. Along with my wife, I have invested about 50% of my retirement corpus in leading public sector banks’ and NBFCs’ deposits. The balance is distributed across SCSS, LIC Vaya Vandana Yojana, PPF, RBI 7.75% taxable bonds. Some bank and NBFC FDs worth ₹30 lakh will be maturing shortly. The new interest rates are very low. Kindly advise any other secure investment option available for regular income with better returns as we are dependent on our interest income.
Rajesh
A. The ultra-low interest rates in the economy have allowed lenders to raise deposits at very low rates that don’t really compensate for inflation. We do think that the abnormally low interest rates will improve once economic growth normalises.