Interest rates of small savings will increase effective April 01, 2012. Today, Ministry of Finance issued a circular witht he details for Small Saving Investments. Increase of Interest rates is based on the recommendations of Shyamala Gopinath Committee.
Overview
No Changes to Saving Deposits
Increase...
The National Highways Authority of India (NHAI) is offering secured debentures that are redeemable after10 and 15 years. This is on offer for institutions and public at large, including non-resident Indians.
This is the first time they are issuing tax free bonds, they are usually known for issuing Section...
The Department of Posts provides postal services to the public through a large nation wide network of Post Offices. Besides providing purely Postal Services, Post Offices perform agency functions like Saving Bank, Payment of Pension, Sale of Cash Certificates etc. on behalf of other Ministries/Departments...
The government on Friday raised interest rate on the Public Provident Fund (PPF) to 8.6 per cent, from 8 per cent earlier. The maximum increase is in the one-year fixed deposits – from 6.25 per cent to 7.7 per cent. The interest rate on other time maturities has been hiked as well.
Similarly, the...
Government has decided to increase the interest rates on post office savings deposits to 4 per cent, from 3.5 per cent at present.
Small savings schemes run by post-office, which are a major source of government’s borrowings, are losing sheen as interest rates offered on bank deposits are more attractive....
