The government has made several major changes providing relief to investors in small savings schemes, including nominating NRIs for government savings
July to September. Interest rates on many small savings schemes have been increased by 10 to 30 basis points.
The amount is more than 300% of the average collection made by the scheme in the month of April, finance ministry officials said
According to RBI, the government should be offering 6.63 % in the current quarter after factoring in the average yield of 6.38% on G-secs
Interest rates for small savings schemes, which are notified on a quarterly basis, have been kept unchanged for sixth straight quarter
Interest rates in small saving schemes are bound to go down in time to come.