In less than 24 hours, Centre withdraws order cutting interest rates on small savings schemes In less than 24 hours, Centre withdraws order cutting interest rates on small savings schemes On Wednesday, the Finance Ministry had announced a sharp cut in interest rates for small savings schemes for the first quarter of the financial year 2021-22. This order has now been withdrawn. advertisement UPDATED: April 1, 2021 19:32 IST The Centre on Thursday withdrew its order cutting interest rates for small savings schemes for Q1 of FY2021-22 (Photo Credits: Pixabay) HIGHLIGHTS Interest rates of small savings schemes of GOI shall continue to be at rates that prevailed as of March 2021: FM