Your money in small savings schemes, such as public provident fund (PPF), would fetch you much lower rates of return in the first quarter of 2020-21.
This is because the
PPF to fetch 7.1%, NSC 6.8% as govt cuts small savings interest rates
This is because the government went for one of the steepest cuts of up to 1.4 percentage points in these interest rates to facilitate banks to lower their rates.
 "rate cut, interest rate, RBI")
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The popular public provident fund (PPF) scheme will now fetch 0.8 percentage points lower interest rate at 7.1 per cent against the current 7.9 per cent.
Topics : Public Provident Fund Reserve Bank of India RBI National Savings Certificate Pensions bank deposits small savings schemes
First Published: Apr 1 2020 | 1:43 AM IST
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