NEW DELHI: The government on Thursday decided to withdraw interest rate cut order on small savings schemes. Interest rates of small savings schemes of GoI (government of India) shall continue to be at the rates which existed in the last quarter of 2020-2021, ie, rates that prevailed as of March 2021. Orders issued by oversight shall be withdrawn, Union finance minister Nirmala Sitharaman wrote on Twitter.
Interest rates of small savings schemes of GoI shall continue to be at the rates which existed in the last quarter… https://t.co/CKQryM8yUN Nirmala Sitharaman (@nsitharaman) 1617243845000
The Centre had slashed interest rates on small savings schemes, such as post office deposits and public provident fund, by up to 110 basis points, dealing a fresh blow to savers seeking safety.
Centre rolls back interest rate cut order on PPF, other small savings schemes
The government on Wednesday reduced the interest on the PPF scheme to 6.4 per cent for the April-June quarter from 7.1 per cent in the January-March period
Ashutosh Kumar | April 1, 2021 | Updated 08:30 IST
Finance Minister Nirmala Sitharaman on Thursday, March 31, announced that the government has taken back its interest rates cut order on small savings schemes
Facing a severe social media backlash over the interest rate cuts in small savings schemes like the Public Provident Fund (PPF), Sukanya Samriddhi Yojana, senior citizen savings scheme, current deposit, and a host of other such schemes on March 31, the finance ministry has rolled back the decision.
The Congress on Thursday launched a direct attack on the ruling BJP-led Central government hours after Union Finance Minister Nirmala Sitharaman announced that the new interest rates on small savings were being withdrawn.Slamming the .
New TDS rules for PPF, other small savings schemes: Check details here business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
Centre has withdrawn its decision to lower the small savings rate for the April-June quarter."Interest rates of small savings schemes of GoI shall continue to be at the rates which existed in the last quarter of 2020-2021, i.e., rates that .