NEW DELHI: The Government on Friday reduced interest rate on small savings schemes, including NSC and PPF, by 0.1 per cent for the July-September quarter.
The move is aimed at matching the softening of interest rates in the banking sector since the RBI cut its benchmark policy rate thrice during the year.
Barring interest on savings deposits, which has been retained at 4 per cent annually, rate on all other schemes has been slashed by 0.1 per cent. (AGENCIES)
Follow our WhatsApp channel