>According to the latest RBI data, PPF receipts have already experienced a decline between April 2023 and February 2024. Other schemes like the Sukanya Samriddhi Account and National Savings Certificate are also witnessing reduced inflows.
Raising a child as a single mother in India can be challenging, especially when it comes to managing finances.
The staff at post offices misappropriated Rs 95.62 crore of public money between November 2002 and September 2021, the Comptroller and Auditor General has said. The money may seem small but it is what common citizen invested in post office savings, the oldest and the largest banking system in the country. The system serves the investment needs of urban and rural clients through schemes such as savings bank, recurring deposits, time deposits, national savings certificates, kisan vikas patras, public provident fund, monthly income account scheme, sukanya samriddhi accounts and senior citizens savings scheme.
Investments in Sukanya Samriddhi Account will earn higher interest rate of 9.2%.
The rate of interest will be effective from April 1, 2015.
'FDs should hold your emergency funds, equivalent to around 6-12 times your monthly expenses.'
Banks have been reluctant to transmit the entire policy rate cut by RBI to borrowers.
Since April 2016, interest rates of all small saving schemes have been recalibrated on a quarterly basis.
When looking for alternatives, consider several parameters -- your investment horizon and liquidity requirement, post-tax returns, and risk.
The rates of interest on various small savings schemes for the third quarter of financial year 2018-19, starting October 1 and ending on December 31, 2018, has been revised, the finance ministry said while notifying the rates.
As per the EPFO income projections, retaining 8.8 per cent rate of interest for the current fiscal would have left a deficit of Rs 383 crore. Hence, it was lowered to 8.65 per cent
Use deductions introduced in the Budget to save additional Rs 24,000 in tax
Even if interest rates go down, they may continue to offer better returns than fixed deposits.
The popular Five-Year National Savings Certificates will earn an interest rate of 8.1 per cent from April 1 as against 8.5 per cent, at present.
The next revision will make the rates similar to those of bank FDs.
The govt has incentivised the worst of investment products.
'Where in the world you get 12.5 per cent return of interest?'
In a move that will hit the common man, the government on Friday slashed interest rates payable on small savings including PPF and Kisan Vikas Patra (KVP) in a bid to align them closer to market rates.
There will be higher charges for bank account-holders.
Government to pay disproportionately high interest for borrowings from savings, overturning a nearly two-decade-long process of reforms in the management of public debt.
The Child Protection Services programme under the Integrated Child Development Services was increased to Rs 1,500 crore from Rs 925 crore.
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