The Weighted Average Domestic Term Deposit Rate on fresh deposits (including retail and bulk) of banks increased by 222 bps from May 2022 to February 2023.
In the Union Budget 2023, which was presented by Finance Minister Nirmala Sitharaman on 1 February 2023, a slew of announcements and changes were made including changes to two of the most popular post office schemes. A new scheme for female investors was also announced in the Union Budget 2023. aaa
The Department of Post has decided for mandatory linking of either PO Savings Account or Bank Account for crediting of interest payment of Senior Citizen Savings Scheme, MIS and TD Accounts and the last date to do so is 31 March 2022.