SMALL SAVINGS SCHEMES
RBI leaves repo rate unchanged: What this means for home loan borrowers, FD investors
Borrowers who are facing salary cut/job loss due to the novel coronavirus pandemic situation and were looking for some reduction in their EMI burden will have to wait a little longer. However, no change in policy rates means good news for FDs investors as banks may go slow on cutting interest rates on FDs.
Small savings scheme, PPF rates remain unchanged
During the start of the first quarter of FY21, the government had lowered the rates on vari...
PPF, NSC and other small savings scheme interest rates kept unchanged by govt
The finance ministry made this announcement via a circular date...
How nominees can claim money from small savings schemes like PPF, NSC
The government via circular dated August 28, 2020, has streamlined the process of claiming money from small savings schemes like PPF, NSC etc for the nominee or legal heirs. Here is a look at the process of claiming money.
PPF rate may fall below 7% to a 46-year low
Short-term deposit rates are now very close to or even less than what savings bank accounts offer.
UK's Rishi Sunak unveils new job support scheme; warns he cannot save every business
"The government will directly support the wages of people in work, giving businesses who face depressed demand the option of keeping employees in a job on shorter hours, rather than making them redundant," Sunak told parliament.
PPF, NSC and other post office schemes interest rates remain unchanged
For Q1 of FY 2020-21, the government had slashed rates of small savings schemes by 0.7-1.40%. If the government had cut rates for this quarter as well in the similar fashion, then PPF would have fetched returns below the 7 per cent mark - a 46-year low.
5 Money and tax tasks you should complete by July 31, 2020
In the wake of novel coronavirus pandemic, the government has provided various relaxations in meeting the financial deadlines to the common man. Many of these deadlines are expiring on July 31, 2020. Here is the list of five of those financial deadlines.
Govt may cut interest rate on PPF, NSC, other small savings schemes next quarter
During the current quarter, the government refrained from cutting interest rates on small savings schemes, such as Public Provident Fund (PPF) and National Savings Certificate (NSC), despite moderating bank deposit rates.
ICICI Bank slashes FD rates by up to 50 bps. Check the latest rates here
From now, the one-year FD will fetch 5.8 per cent per annum, down from 6.2 per cent (a 50 bps cut) and five-year FDs will now earn 6 per cent, down from 6.4 per cent (a reduction of 40 bps).
Jana Small Finance Bank plans 600 branches by March next year
Jana Small Finance Bank is one of the 10 financial institutions which had received in-principle approval from the RBI for a small finance bank in 2015.
Common application form issued for PPF, NSC and other small savings schemes
It must be recalled that the finance ministry had revised rules and introduced separate forms for each small savings scheme via a notification in December 2019.
Small savings rate may see moderation next quarter: DEA secy
During the current quarter, the government refrained from cutting interest rates on small savings schemes, including Public Provident Fund (PPF) and National Savings Certificate (NSC), despite moderating bank deposit rates.
Did you retire between Feb and April? You can open Senior Citizen Savings account till Jun 30
The decision to relax the regulatory provisions has been taken to safeguard the interest of small savings depositors in the view of the lockdown in the country due to the coronavirus pandemic.
Free foodgrain schemes to add Rs 1.49 Lakh Cr to govt's subsidy burden
The government pays a subsidy of about Rs 1.70 lakh crore annually for cheap grains to 810 million ration card holders under the National Food Security Act (NFSA), which offers poor people 5 kg foodgrains per person per month at highly subsidised rates.