The government has accepted the recommendations of a panel headed by Shayamala Gopinath, former Dy Governor of the Reserve Bank of India, to link the interest rates on small savings etc with the market rates.
The change, as things stand, would mean better returns on small savings.
The interest on the Public Provident Fund ( PPF) scheme is expected to be raised to 8.6% p.a. from the current 8% p.a., whereas the return on 5-year National Savings Certificates is expected to go up to 8.4% pa from the current 8% pa.
Not an earth-shaking raise really but ... can we the people ever be the choosers?!!
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