? Cool Title, but what’s the news?
The government has hiked interest rates of various small savings schemes for the third quarter (October 1 to December 31) by up to 40 bps.
? Okay, but what does it mean?
These schemes include the Public Provident Fund (PPF), Sukanya Samriddhi Yojana (SSY), National Savings Certificate (NSC), and post office time deposits.
? Why should I care?
This is a welcome relief for fixed income investors as rates have remained unchanged for the previous two quarters. Added to that, the government had reduced the interest rates on these schemes in January -March 2018, quarter.
Source: Economic Times