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News From Press Govt may announce new interest rates on small savings schemes soon

Govt may announce new interest rates on small savings schemes soon

Source: Business Standard Jan 14, 2016

The government is soon likely to announce rationalised interest rates on small savings schemes, enabling banks transmit the policy rate reduction by the Reserve Bank of India to borrowers.

According to sources, the finance ministry is seriously considering the suggestions made by various stakeholders, including banks and other ministries, and brought up during the pre-budget meetings with leading economists and experts, suggesting lower small savings rate.

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