"Orders issued by oversight shall be withdrawn," Nirmala Sitharaman said in her tweet.
The latest rollback of rate cut should bring cheer to the small investors. The Wednesday order had slashed the interest rates till June. (Reuters file photo)In a major relief to the common man, the Narendra Modi government has withdrawn the rate cut order on the small saving schemes. In a brief message on Twitter, Union Finance Minister Nirmala Sitharaman said that interest rates for all saving schemes — which existed in the last quarter – will continue. “Interest rates of small savings schemes of GoI shall continue to be at the rates which existed in the last quarter of 2020-2021, ie, rates that prevailed as of March 2021. Orders issued by oversight shall be withdrawn,” Sitharaman said in her tweet.
Interest rates of small savings schemes of GoI shall continue to be at the rates which existed in the last quarter of 2020-2021, ie, rates that prevailed as of March 2021.
Orders issued by oversight shall be withdrawn. @FinMinIndia @PIB_India— Nirmala Sitharaman (@nsitharaman) April 1, 2021
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