New Delhi: The government is going to announce the interest rates on small savings, including RD, MIS, and PPF at the post office, on Friday, i.e., today. The Finance Ministry is also announcing the rates for every quarter. Any new change in this is going to be implemented on April 1. Given the high interest on bank FDs, rates on specialist small savings are also expected to increase. At present, 5.8 percent interest is also being given on the RR of the post office. At the same time, 7.1 percent interest is also being provided on the MIS and 8.0 percent on the Senior Citizen Scheme.
What is Small Savings Scheme – Post Office RD, Kisan Vikas Patra, Senior Citizen Deposit Scheme, Monthly Income Scheme (MIS), Public Provident Fund (PPF), Fixed Deposit Scheme (FD), Sukanya Samriddhi Yojana, etc. also introduced in small savings Going The interest rates on these are decided by the Finance Ministry every quarter. Along with this, banks do it in their own way on the basis of the repo rate of the Reserve Bank on all other deposit schemes.
For the current quarter, at the end of December last year, the interest rates of some schemes had also been increased. However, after this, the banks increased the interest rate several times. Sources associated with the case also say that this time the government is also going to make KYC mandatory for small savings schemes. According to him, the use of an Aadhaar card in place of a PAN card in KYC can be approved. If this happens, it is going to be easy to get the claim along with the investment.
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