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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 untou .....

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he geographically inaccessible areas due to their implementation primarily through the Post Offices, which have reach far and wide. The small savings interest rates are perceived to limit the banking sector s ability to lower deposit rates in respons .....

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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 sa .....

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ched by the Government. 2. Similarly the spread of 25 bps that long term instruments, such as the 5 yr Term Deposit, 5 year National Saving Certificates and Public Provident Fund (PPF) currently enjoy over G-Sec of comparable maturity, have been left .....

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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 .....

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s with the market rates of the relevant Government securities; Sr. No. Quarter for which rate of interest would be effective Date on which the revision would be notified Rate of interest to be based on FIMMDA month end G-Sec. rate pertaining to 1. Ap .....

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