Home   »   Centre withdraws order cutting interest rates...

Centre withdraws order cutting interest rates on small savings schemes

Centre withdraws order cutting interest rates on small savings schemes_4.1

The government has withdrawn its order slashing interest rates on small savings schemes, including National Savings Certificates (NSC) and Public Provident Fund (PPF), for the first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.

Buy Prime Test Series for all Banking, SSC, Insurance & other exams

However, the orders issued were withdrawn by the government on April 01, 2021.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.

Find More National News Here

Centre withdraws order cutting interest rates on small savings schemes_5.1

Centre withdraws order cutting interest rates on small savings schemes_6.1