Govt withdraws interest rate cut order on PPF, other small saving schemes

2 weeks ago 6
Government of India

Finance Minister Nirmala Sitharaman takes back the government’s decision of reducing the interest rates on small savings on Thursday (April 1). 

New Delhi: Finance Minister Nirmala Sitharaman takes back the government’s decision of reducing the interest rates on small savings on Thursday (April 1). 

Earlier, on Wednesday (March 31), the government gave a big blow to the common people by cutting interest rates on small savings. However, taking it to Twitter the following day, Nirmala Sitharaman wrote, “Interest rates of small savings schemes of GoI 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 Orders issued by oversight shall be withdrawn. @FinMinIndia @PIB_India”

Interest rates of small savings schemes of GoI 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Orders issued by oversight shall be withdrawn. @FinMinIndia @PIB_India

— Nirmala Sitharaman (@nsitharaman) April 1, 2021

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