Govt cuts interest rate on small savings schemes by 0.1 pc, effective July 1

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The government Friday reduced interest rate on small savings schemes, including NSC and PPF, by 0.1 per cent for the July-September quarter. The move is aimed at matching the softening of interest rates in the banking sector since the RBI cut its benchmark policy rate thrice during the year.




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Watch Govt cuts interest rate on small savings schemes by 0.1 pc, effective July 1 With HD Quality.

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    Govt cuts interest rate on small savings schemes by 0.1 pc, effective July 1

    The government Friday reduced interest rate on small savings schemes, including NSC and PPF, by 0.1 per cent for the July-September quarter. The move is aimed at matching the softening of interest rates in the banking sector since the RBI cut its benchmark policy rate thrice during the year.




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    Watch Govt cuts interest rate on small savings schemes by 0.1 pc, effective July 1 With HD Quality

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    Govt cuts interest rates on small savings schemes, PPF hits 46 year low of 6.4%

    Government has announced a cut in interest rates of small savings schemes. As per a finance ministry circular, dated March 31, 2021, interest rates on small savings schemes have been cut by massively between 40 -110 basis points (100 basis points/bps = 1%) for the first quarter of the financial year 2021-22. The PPF interest rate below 7% would be the first time since 1974, a 46 year low.

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    Govt cuts interest rates on small savings schemes, PPF hits 46 year low of 6.4%

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    Surinder Singh
    - Subtitles: Diveeja Sharma

    For Pinaka Mediaworks LLP (India)

    - Co-founder & CFO: Sunil Sharma
    - Brand Communication Head: Diveeja Sharma
    - Head of Post Production: Bhasker Pandey
    - Legal Advisor: Vishal Taneja

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