Centre withdraws order cutting interest rates on small savings schemes

Sumit Arora Last updated on April 2nd, 2021 12:25 pm Leave a comment

The government has withdrawn its order slashing interest rates on small savings schemes, including National Savings Certificates (NSC) and Public Provident Fund (PPF), for the first quarter of 2021-22. Earlier on March 31, 2021, the Finance Ministry had announced a sharp cut in interest rates for small savings schemes by 50-110 basis points. Interest rates for small savings schemes are notified on a quarterly basis.

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However, the orders issued were withdrawn by the government on April 01, 2021. This marks the fourth consecutive quarter that the government has maintained the rates on such schemes that are effective from April 1 and remain in effect till June 30, 2021.

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Sumit Arora

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As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.