The Government Of India has slashed the interest rates on Provident Fund , Kisan Vikas Patra And On Small Saving Schemes. The government has reduced these rates on Friday on all small saving schemes across the board. The GOI has announced the highest reduction of 130 basis points in the case of one-year time deposit, as per an office order issued by the finance ministry. The rates on small savings schemes have been reduced to align them to market rates.
The new rates will come into effect on April 1 and will be valid till June 30. Please see the below image for all the Interest rate cut imposed by the GOI on Small Saving Schemes.