 "RBI")
The latest data released by the Reserve Bank of India (RBI) show a sharp decline in small savings in the first eight months of the financial year 2017-18 when small savings schemes amounted to just Rs 40,429 crore, a seven-fold dip from Rs 2,75,682 crore in the corresponding period of the previous year. Evidently, it is at the cost of more investment in mutual fund schemes where political and other factors can suddenly harm investors like it happened with investment in properties.
A sharp decline in the interest rate was anticipated after demonetisation when the Jeevan Akshay pension plan of LIC
