Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
News

Home News News and Press Release Month 11 2016 2016 (11) This

Interest rate cut for long term saving schemes

29-11-2016
  • Contents

The interest rates of Public Provident Fund (PPF), Kisan Vikas Patra (KVP), Senior Citizens Savings Scheme, 2004, and Sukanya Samriddhi Account (the Girl Child Scheme) were reduced by 0.10 percentage point for the quarter 01.10.2016 to 31.12.2016, and not 0.10 percentage per annum.

The reduction in the rates of interest by 0.10 percentage point was necessitated by a significant fall in the yields on Government Securities of comparable maturities.

This was stated by Shri Arjun Ram Meghwal, Minister of State in the Ministry of Finance in written reply to a question in Rajya Sabha today.

Quick Updates:Latest Updates