Small Savings Interest Rates Reduced

The interest rate on small savings scheme has been cut. The Public Provident Fund will now offer 7.1% rate, after an 80 basis points cut in its interest rate. The interest rate on National Savings Certificate has been slashed by 110 bps to 6.8%. The interest rate on Kisan Vikas Patra has also been cut by 70 bps to 6.9%.

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