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Interest Rates of Small Saving Schemes to be recalibrated w.e.f. 1.4.2016 on a Quarterly Basis to align the small saving interest rates with the market rates of the relevant Government securities;

News and Press Release - Dated:- 17-2-2016 - Interest rate on savings schemes based on laudable Social Development or Social Security Goals including Sukanya Samriddhi Yojana, the Senior Citizen Savings Scheme and the Monthly Income Scheme left untouched by the Government. The National Savings Schemes (NSSs) regulated by the Ministry of Finance offer complete security of investment combined with high attractive returns. These schemes also act as instruments of financial inclusion especially in t .....

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hemes. Accordingly, it has been decided that the following shall be implemented with effect from 1.4.2016 with regard to National Savings Schemes: 1. The Sukanya Samriddhi Yojana, the Senior Citizen Savings Scheme and the Monthly Income Scheme are savings schemes based on laudable social development or social security goals. Hence, the interest rate and spread that these schemes enjoy over the G-sec rate of comparable maturity viz., of 75 bps, 100 bps and 25 bps respectively have been left untou .....

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over comparable tenure Government securities, shall stand removed w.e.f. April 1, 2016 to make them closer in interest rates to the similar instruments of the banking sector. This is expected to help the economy move to a lower overall interest rate regime eventually and thereby help all, particularly low-income and salaried classes. 4. The interest rates of all small saving schemes would be recalibrated w.e.f. 1.4.2016 on a quarterly basis as given under, to align the small saving interest rate .....

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