PPF to fetch 7.1%, NSC 6.8% as govt cuts small savings interest rates

Your money in small savings schemes, such as public provident fund (PPF), would fetch you much lower rates of return in the first quarter of 2020-21.
 

This is because the government went for one of the steepest cuts of up to 1.4 percentage points in these interest rates to facilitate banks to lower their rates.
 

The move came days after the Reserve Bank of India (RBI) announced 75 basis-points cut in policy rate.
 

The popular public provident fund (PPF) scheme will now fetch 0.8 percentage points lower interest rate at 7.1 per cent against the current 7.9 per cent.
 

Similarly,