Centre rolls back interest rate cut order on PPF, other small savings schemes The government on Wednesday reduced the interest on the PPF scheme to 6.4 per cent for the April-June quarter from 7.1 per cent in the January-March period Ashutosh Kumar | April 1, 2021 | Updated 08:30 IST Finance Minister Nirmala Sitharaman on Thursday, March 31, announced that the government has taken back its interest rates cut order on small savings schemes Facing a severe social media backlash over the interest rate cuts in small savings schemes like the Public Provident Fund (PPF), Sukanya Samriddhi Yojana, senior citizen savings scheme, current deposit, and a host of other such schemes on March 31, the finance ministry has rolled back the decision.