Interviewtimes 
The central government, which has been implementing interest rate decisions since the beginning of the new financial year, changed its decision within 24 hours. Union Finance Minister Nirmala Sitharaman tweeted today that interest rates on PPF would remain unchanged after fierce protests from various quarters. In addition, interest rates on low savings will also remain unchanged.
Interestingly, interest rates on PPF and other small savings were reduced yesterday. The interest rate for the last quarter of 2020-21 will apply. So interest rates on low savings will remain unchanged. Today, Union Finance Minister Nirmala Sitharaman tweeted that the decision to cut interest rates was revoked.
The PPF interest rate will be 7.1% per annum, the NCS interest rate will be 7.6%, the Sukanya Samriddhi Yojana interest rate will be 7.5% and the savings deposit will be 7%. Interest rates for senior citizens, on the other hand, will remain at 7.6 percent as before. The decision was taken yesterday by the central government to cut interest rates on low savings.
According to a statement issued by the government yesterday, the interest rate on PPF has been reduced from 8.1% per annum to 7.6% per annum. The government also reduced the NSC interest rate from 6.7% to 5.6%. Sukanya Samriddhi Yojana interest rates were also reduced. Previously it was 4. It fell to 6.6% after the government’s announcement of 5%. The government also reduced interest rates on savings deposits from 7% to 3.5%, and reduced the interest rate on senior citizens from 6.7% to 7.5%. It was announced that it would be implemented for the first quarter of the 2021 financial year. However, it was withdrawn immediately after intense protests.
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