Govt discontinuing RBI Bonds scheme another blow to citizens: Chidambaram

Senior Congress leader P Chidambaram on Thursday hit out at the government for discontinuing the RBI Bonds scheme, saying it is another "cruel blow" to the citizens.

He said the government has dealt another blow to the citizens who save, especially senior citizens, as it has discontinued the 7.75 per cent RBI Bonds.

Deploring the government action, he urged people to demand from the government that the RBI Bond be restored immediately.

"After lowering the interest rates in PPF and small savings instruments, the abolition of the RBI Bond is another cruel blow," he said on Twitter.