News From Press Small saving schemes’ rates are pegged to G-sec yields

Small saving schemes’ rates are pegged to G-sec yields

Source: Livemint Jul 17, 2018

The government has decided to keep the interest rate on small savings schemes like the Public Provident Fund (PPF), National Savings Certificate (NSC), Kisan Vikas Patra (KVP) and Senior Citizen Savings Scheme (SCSS) unchanged for the July-September quarter of the current financial year. This is the second consecutive quarter in which these rates have been kept unchanged even as the Reserve Bank of India increased the repo rate by 25 bps in its June monetary policy review.

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