Latest News
-
2 Multibagger Defence To Shield Your Money, Buy On April 24; Prabhudas Sets Target Prices, Stop Loss -
Rs 3.5/Share Dividend Declared: NBFC Declares 55.5% YoY Surge In PAT, Shares Up 87% In 1-Yr -
Rs 118/Share Dividend: Healthcare Stock Below Rs 400 Turned Ex-Dividend, Payout Soon; Buy For Rs 515 Target -
6,693% Returns: Below Rs 75, Pharma Penny Stock Ex-Dividend For Rs 40/Sh Payout After 9 Years; Do You Own? -
TCS Vs Infosys Vs Wipro Shares, ADRs, Upcoming Dividends: Which Mega IT Stocks To Buy After Q4 Results? -
SBI Card Launches 3 New Variants of Its Travel Credit Card ‘SBI Card MILES’ -
25% Dividend Record Date: Logistic Stock Nears 1-Year High And It Belongs To Mahindra; Motilal Neutral -
1:10 Split, 26 Dividends: Tata's 26-Year-Old Retail Stock In Focus, Q4, Dividend Ahead; Buy For Target Rs 4200 -
1:5 Split Soon: Rs 2,300 Defence Stock To Split Into Five Shares, Rs 400 Cr Fundraising Too; Hits 52-Week High -
Penny Stock Bags Back-To-Back Orders Worth Rs 500 Mn, 110 Mn; Shares Hit Upper Circuit
Small Savings Schemes Interest Rate To Go Down From Oct Qtr
Interest rate on small savings schemes with government of India backing are revised quarterly based on the yield on benchmark 10-year government bonds. And as in the current liquidity crisis scenario, these are not in sync with the market rates, we may see the rates on deposits such as PPF, NSC and other instruments to head southwards for the upcoming quarter starting October. Usually, the government announces the rate on such deposits at the end of the quarter for the following quarter.
And as it is there will be a setback for the banks with the new external benchmarking norm that would set in from October 1. With the rate cut move, depositors will also be affected as some of the banks have already linked their deposit rates to repo rate.
So, while the finance ministry has given its go-ahead, any cut down on small savings can be jittery and may in adverse public reaction. It is to be noted that government has also favoured the setting in of market rates for small saving schemes.
GoodReturns.in
