Government Cuts PPF & NSC Rates.

The finance ministry today said, that it has cut Public Provident Fund (PPF) and National Savings Certificate (NSC) rates but left savings deposit rate and one-year time deposit unchanged.

PPF has been cut to 8.7 per cent from 8.8 per cent while the 10-year NSC has been slashed to 8.8 per cent from 8.9 per cent, the finance ministry said.

The savings deposit rate has been left unchanged at 4 per cent and the one-year term deposit too stays at 8.2 per cent.

The government is still trying to protect small investors, the ministry said adding “G-Sec (Government securities) rates have fallen more sharply than reduction in small saving instruments.”

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