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Government withdraws interest rate cut on small savings
April 01, 2021
Rates as on March 31 to continue for April-June quarter
Within 12 hours of taking decision regarding rate cut reduction on small savings, the Finance Ministry on Thursday withdrew the order. This means interest rates on various small saving schemes such as National Saving Certificates (NSC), Public Provident Fund (PPF) will continue for at least three more months starting April 1.
On Wednesday, the Ministry issued an office memorandum effecting cut in the range of 50 basis points to 90 basis points. This was one of the biggest reductions after the interest rate unchanged for longest period. ....

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