"Orders Issued By Oversight": Interest Rate Cuts On Small Savings Dropped

The government has rolled back cuts on interest rates on small savings schemes, including National Savings Certificates or NSC and Public Provident Fund or PPF, announced last evening. "Interest rates of small savings schemes of the government of India 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 Orders issued by oversight shall be withdrawn," Finance Minister Nirmala Sitharaman tweeted this morning.

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