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Why are small savings schemes so important?

Why are small savings schemes so important? Premium On 31 March, the govt slashed interest rates on small savings schemes. The Public Provident Fund (PPF) interest rate was cut from 7.1% to 6.4%. On 1 April, the Centre withdrew its order, saying it was issued due to an oversight. Mint explains the importance of these rates Share Via Read Full Story On 31 March, the government slashed interest rates on small savings schemes. The Public Provident Fund (PPF) interest rate was cut from 7.1% to 6.4%. On 1 April, the Centre withdrew its order, saying it was issued due to an oversight. Mint explains the importance of these rates.

Public provident fundSmall savings schemesInterest on small savings schemesPpf rate cutSenior citizens savings schemeSukanya samriddhi schemeNational small savings fundMoney managementPersonal financeபொது வருங்கால நிதிசிறிய சேமிப்பு திட்டங்கள்ஆர்வம் ஆன் சிறிய சேமிப்பு திட்டங்கள்ப்ப்ப் ரேட் வெட்டுமூத்தவர் குடிமக்கள் சேமிப்பு திட்டம்சுகன்யா சாமிரிட்தி திட்டம்தேசிய சிறிய சேமிப்பு நிதி

Cruel joke on April Fool s Day? Centre rolls back small savings interest rate cuts

âInterest rates of small savings schemes shall continue to be at the rates which existed in the last quarter of 2020-2021, that is, rates that prevailed as of March 2021. Orders issued by oversight shall be withdrawn,â Nirmala Sitharaman tweeted. However, social media had a field day on the abrupt U-turn and the indiscreet choice of words in the FMâs tweet, attributing it instead to election-driven âhindsightâ â as the politically insensitive announcement had coincided with the Nandigram election in West Bengal. The Ministry of Finance is not known to take impromptu decisions and notifications go through a maze of clearances before they see the light of the day, point out sources. The government, these sources added, had sought the Election Commission s no-objection for the periodic review of interest rates and had got it before making the announcement in the middle of elections. The government had said a periodic review in every quarter was necessary,

Sukanya samriddhi yojanaVikas patraCongress leaderp chidambaramFormer finance ministerSenior citizens savings schemeKisan vikas patraFinance ministryNirmala sitharamanசுகன்யா சாமிரிட்தி யோஜனாவிகாஸ் பத்ராமுன்னாள் நிதி அமைச்சர்மூத்தவர் குடிமக்கள் சேமிப்பு திட்டம்கீசன் விகாஸ் பத்ராநிதி அமைச்சகம்

A reprieve, for now - The Hindu BusinessLine

A reprieve, for now Senior citizens can heave a sigh of relief on small savings rates We’ll never know whether the Finance Ministry’s rapid U-turn on the rate reset for small savings schemes was someone’s idea of an April Fool prank or a rethink triggered by, ahem, political considerations. Whatever the reason, small savers can heave a sigh of relief that they’ve won a reprieve from the 50 to 110 basis point cuts, for now. Had they gone through, retirees would have had to take a 13 per cent haircut on their interest income from the Senior Citizens Savings Scheme, others a 14 per cent dent on the Monthly Income Scheme and 1-year depositors a 20 per cent hit to their interest receipts.

Shyamala gopinathFinance ministryApril foolSenior citizens savings schemeMonthly income schemeSmall savingsInterest ratesSenior citizensPost office savingsஷியாமள கோபினத்நிதி அமைச்சகம்ஏப்ரல் முட்டாள்மூத்தவர் குடிமக்கள் சேமிப்பு திட்டம்மாதாந்திர வருமானம் திட்டம்சிறிய சேமிப்புஆர்வம் ரேட்ஸ்

Centre withdraws cut in interest rates on PPF, savings deposits, says order was issued by oversight

Centre withdraws cut in interest rates on PPF, savings deposits, says order was issued by oversight
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Vikas patraPublic provident fundFinance minister nirmala sitharamanSenior citizens savings schemeKisan vikas patraவிகாஸ் பத்ராபொது வருங்கால நிதிமூத்தவர் குடிமக்கள் சேமிப்பு திட்டம்கீசன் விகாஸ் பத்ரா

Sitharaman s comments blaming oversight for cutting interest rates draw flak

Sitharaman s comments blaming oversight for cutting interest rates draw flak
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Nirmala sitharamanPriyanka gandhi vadraRandeep surjewalaMohua moitraSalman sozNational savings certificatesPublic provident fundTrinamool congressSenior citizens savings schemeSukanya samriddhi schemeApril foolNirmala sitaramanFin minமொஹு மொய்ற்றதேசிய சேமிப்பு சிஇஆர்டிஐஎஃப்ஐசிஏடிஇஎஸ்பொது வருங்கால நிதி