PPF, other small savings schemes set for interest rate cut
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New Delhi, Sept. 11 -- The interest rate on popular Public Provident Fund (PPF) and other small savings schemes are set for a downward revision. The interest rate of small savings schemes, including that of PPF, Senior Citizens Savings Scheme and girl child savings schemes Sukanya Samriddhi account, are revised every quarter, depending on government bond yields. With overall interest rate on a downward trajectory and banks revising their fixed deposit schemes lower, analysts expect that small savings schemes are set for an interest rate cut.
This month-end, the government will decide on the interest rate of small savings schemes for the October to December quarter. For the current July-September quarter, the government had lowered intere...
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