Centre raises interest rates on Post Office deposits, provident fund rates unchanged
New Delhi/IBNS: Centre raised the interest rates on a bouquet of small-term deposits on Friday.
The interest rates on post office term deposits, NSC (National Savings Certificate) and senior citizen savings scheme has been raised by up to 1.1 percentage points with effect from January 1.
However, the interest rates on Public Provident Fund (PPF) and the girl child savings scheme Sukanya Samriddhi remain unchanged.
From January 1, the National Savings Certificate (NSC) will yield a 7 percent interest rate compared to the existing 6.8 percent.
The senior citizen savings scheme will have 8 percent interest against 7.6 percent currently.
Post office term deposit schemes will yield interest rate 1.1 percentage points higher while the monthly income scheme will yield 7.1 percent interest, up from 6.7 percent.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
Related Articles
CRR cut, AI ethics push, and SORR benchmark: Experts hail RBI’s pragmatic policy moves
Mumbai: The Reserve Bank of India (RBI) has kept the repo rate unchanged at 6.5% while the cash reserve ratio (CRR) has been slashed by 50 basis points to 4 percent, media reports said.
JP Morgan gives 'overweight' rating to Adani Group bonds
Mumbai: US investment bank JP Morgan has assigned an 'overweight' rating to four bonds issued by the Adani Group, citing the group's capacity to scale and grow through internal cash flows, which reduces the likelihood of credit stress.
LG Electronics files DRPH with SEBI; IPO size expected to be over RS 15,000 cr
Mumbai: South Korean electronics giant LG Electronics has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on Friday for the proposed public listing of its Indian business, according to a notification on the Bombay Stock Exchange (BSE).
De-dollarisation not on India's agenda; derisking domestic trade is: RBI Governor Shaktikanta Das
Mumbai: India has not initiated any steps towards de-dollarisation and is solely focused on mitigating risks to domestic trade from geopolitical uncertainties, Reserve Bank of India (RBI) Governor Shaktikanta Das clarified on Friday, media reports said.
Latest News
Antonio Guterres ‘encouraged’ after Hamas indicates willingness to release Israeli hostages
Indian dental student shot dead at gas station in US
MedSage expands footprint with new branch in Rampurhat
Bangladesh interim govt faces international criticisms over human rights violations
