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EPF still a top scorer despite cut in interest rate to 40-year low - 5 Reasons

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Modi govt's bumper Diwali gift to PF subscribers! Finance Ministry approves 8.5% PF interest rate for FY21

EPFO will soon start crediting it into the beneficiary account. It may be recalled that in March 2021, the EPFO apex decision-making body Central Board of Trustees decided to fix 8.5 per cent rate of interest for 2020-21 at its meeting in Srinagar. ....

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In less than 24 hours, Centre withdraws order cutting interest rates on small savings schemes

In less than 24 hours, Centre withdraws order cutting interest rates on small savings schemes
In less than 24 hours, Centre withdraws order cutting interest rates on small savings schemes
On Wednesday, the Finance Ministry had announced a sharp cut in interest rates for small savings schemes for the first quarter of the financial year 2021-22. This order has now been withdrawn.
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UPDATED: April 1, 2021 19:32 IST
The Centre on Thursday withdrew its order cutting interest rates for small savings schemes for Q1 of FY2021-22 (Photo Credits: Pixabay)
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Interest rates of small savings schemes of GOI shall continue to be at rates that prevailed as of March 2021: FM ....

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Centre rolls back interest rate cut order on PPF, other small savings schemes

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. ....

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Early morning PMO order behind roll-back of small savings rate cut

Early morning PMO order behind roll-back of small savings rate cut
The timing of the withdrawal of the rate cut was very crucial as it was done moments before the commencement of second phase of voting in ongoing state assembly elections
Ashutosh Kumar | April 2, 2021 | Updated 00:04 IST
FM Nirmala Sitharaman mentioned that the interest rate cuts were issued by oversight
Early morning intervention today by Prime Minister s Office (PMO) led to the immediate reversal of sharp interest rate cuts on small savings schemes approved by Finance Minister Nirmala Sitharaman late Wednesday evening.
The decision on interest rate reduction for April-June quarter of FY22 faced massive backlash due to mega pruning of rates in PPF, Sukanya Samriddhi Yojana and senior citizen savings schemes used by the people to park their life s savings. ....

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