Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 150
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Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 151
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 97
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

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        LATEST NEWS UPDATES | Government withdraws order on rate cut on small savings schemes -Vikas Dhoot    </title>
    <meta name="description" content="-The Hindu

This is the first time that the Centre has scrapped the notified interest rates on small savings schemes after switching to a quarterly interest rate setting system in April 2016.

Hours after notifying significant cuts in small savings instruments&rsquo; returns..."/>
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     <meta property="og:description" content="-The Hindu

This is the first time that the Centre has scrapped the notified interest rates on small savings schemes after switching to a quarterly interest rate setting system in April 2016.

Hours after notifying significant cuts in small savings instruments&rsquo; returns..." />
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                            <p style="text-align:justify">-The Hindu</p><p style="text-align:justify"><em>This is the first time that the Centre has scrapped the notified interest rates on small savings schemes after switching to a quarterly interest rate setting system in April 2016.</em></p><p style="text-align:justify">Hours after notifying significant cuts in small savings instruments&rsquo; returns for this quarter, the government has backtracked on these sharp cuts. This is the first time that the Centre has scrapped the notified interest rates on small savings schemes after switching to a quarterly interest rate setting system in April 2016.</p><p style="text-align:justify">The government appears to have had a rethink owing to a sharp backlash on social media about the middle class being squeezed. Retail inflation has been breaching the 6% mark and the government has also decided to tax Employees PF savings starting this year.</p><p style="text-align:justify">&ldquo;Interest rates of small savings schemes of GoI shall continue to be at the rates which existed in the last quarter of 2020-2021, ie, rates that prevailed as of March 2021. Orders issued by oversight shall be withdrawn,&rdquo; Finance Minister Nirmala Sitharaman said in a tweet early Thursday morning.</p><p style="text-align:justify">The government resets the interest rate on small savings instruments every quarter, but this round of rate cuts was significant after three quarters of the rates being left untouched. The last round of rate reductions was in the April to June quarter of 2020, when small savings rates had been cut between 0.5% and 1.4%.</p><p style="text-align:justify">The rates notified on Wednesday night for the April to June 2021 quarter were 40 basis points (0.4%) to 110 basis points (1.1%) lower on various instruments.</p><p style="text-align:justify">The sharpest cut was proposed in the quarterly interest rate paid on one year term deposits, from 5.5% in the January to March quarter to 4.4% in this quarter. The rate of return on the Senior Citizen Savings&rsquo; Scheme was cut from 7.4% to 6.5%, while the Sukanya Samriddhi Account Scheme&rsquo;s return was reduced from 7.6% to 6.9%.</p><p style="text-align:justify">The rate of return on the popular Public Provident Fund (PPF) scheme was reduced from 7.9% to 7.1% last April and further slashed to 6.1% for this quarter, before the minister announced the rollback on Thursday morning.</p><p style="text-align:justify">Please <a href="https://www.thehindu.com/business/government-withdraws-order-on-rate-cut-on-small-savings-schemes/article34211710.ece?homepage=true" title="https://www.thehindu.com/business/government-withdraws-order-on-rate-cut-on-small-savings-schemes/article34211710.ece?homepage=true">click here</a> to read more.</p>                                                           
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    <br><a href="https://www.thehindu.com/business/government-withdraws-order-on-rate-cut-on-small-savings-schemes/article34211710.ece?homepage=true" class="re" target="_blank">The Hindu, 1 April, 2021. https://www.thehindu.com/business/government-withdraws-order-on-rate-cut-on-small-savings-schemes/article34211710.ece?homepage=true</a><div class="clear"></div>
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        LATEST NEWS UPDATES | Government withdraws order on rate cut on small savings schemes -Vikas Dhoot    </title>
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This is the first time that the Centre has scrapped the notified interest rates on small savings schemes after switching to a quarterly interest rate setting system in April 2016.

Hours after notifying significant cuts in small savings instruments&rsquo; returns..."/>
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This is the first time that the Centre has scrapped the notified interest rates on small savings schemes after switching to a quarterly interest rate setting system in April 2016.

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    <h1 class="cat-box-title">Government withdraws order on rate cut on small savings schemes -Vikas Dhoot</h1>
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                            <p style="text-align:justify">-The Hindu</p><p style="text-align:justify"><em>This is the first time that the Centre has scrapped the notified interest rates on small savings schemes after switching to a quarterly interest rate setting system in April 2016.</em></p><p style="text-align:justify">Hours after notifying significant cuts in small savings instruments&rsquo; returns for this quarter, the government has backtracked on these sharp cuts. This is the first time that the Centre has scrapped the notified interest rates on small savings schemes after switching to a quarterly interest rate setting system in April 2016.</p><p style="text-align:justify">The government appears to have had a rethink owing to a sharp backlash on social media about the middle class being squeezed. Retail inflation has been breaching the 6% mark and the government has also decided to tax Employees PF savings starting this year.</p><p style="text-align:justify">&ldquo;Interest rates of small savings schemes of GoI shall continue to be at the rates which existed in the last quarter of 2020-2021, ie, rates that prevailed as of March 2021. Orders issued by oversight shall be withdrawn,&rdquo; Finance Minister Nirmala Sitharaman said in a tweet early Thursday morning.</p><p style="text-align:justify">The government resets the interest rate on small savings instruments every quarter, but this round of rate cuts was significant after three quarters of the rates being left untouched. The last round of rate reductions was in the April to June quarter of 2020, when small savings rates had been cut between 0.5% and 1.4%.</p><p style="text-align:justify">The rates notified on Wednesday night for the April to June 2021 quarter were 40 basis points (0.4%) to 110 basis points (1.1%) lower on various instruments.</p><p style="text-align:justify">The sharpest cut was proposed in the quarterly interest rate paid on one year term deposits, from 5.5% in the January to March quarter to 4.4% in this quarter. The rate of return on the Senior Citizen Savings&rsquo; Scheme was cut from 7.4% to 6.5%, while the Sukanya Samriddhi Account Scheme&rsquo;s return was reduced from 7.6% to 6.9%.</p><p style="text-align:justify">The rate of return on the popular Public Provident Fund (PPF) scheme was reduced from 7.9% to 7.1% last April and further slashed to 6.1% for this quarter, before the minister announced the rollback on Thursday morning.</p><p style="text-align:justify">Please <a href="https://www.thehindu.com/business/government-withdraws-order-on-rate-cut-on-small-savings-schemes/article34211710.ece?homepage=true" title="https://www.thehindu.com/business/government-withdraws-order-on-rate-cut-on-small-savings-schemes/article34211710.ece?homepage=true">click here</a> to read more.</p>                                                           
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    <br><a href="https://www.thehindu.com/business/government-withdraws-order-on-rate-cut-on-small-savings-schemes/article34211710.ece?homepage=true" class="re" target="_blank">The Hindu, 1 April, 2021. https://www.thehindu.com/business/government-withdraws-order-on-rate-cut-on-small-savings-schemes/article34211710.ece?homepage=true</a><div class="clear"></div>
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        LATEST NEWS UPDATES | Government withdraws order on rate cut on small savings schemes -Vikas Dhoot    </title>
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This is the first time that the Centre has scrapped the notified interest rates on small savings schemes after switching to a quarterly interest rate setting system in April 2016.

Hours after notifying significant cuts in small savings instruments&rsquo; returns..."/>
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     <meta property="og:description" content="-The Hindu

This is the first time that the Centre has scrapped the notified interest rates on small savings schemes after switching to a quarterly interest rate setting system in April 2016.

Hours after notifying significant cuts in small savings instruments&rsquo; returns..." />
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    <h1 class="cat-box-title">Government withdraws order on rate cut on small savings schemes -Vikas Dhoot</h1>
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                            <p style="text-align:justify">-The Hindu</p><p style="text-align:justify"><em>This is the first time that the Centre has scrapped the notified interest rates on small savings schemes after switching to a quarterly interest rate setting system in April 2016.</em></p><p style="text-align:justify">Hours after notifying significant cuts in small savings instruments&rsquo; returns for this quarter, the government has backtracked on these sharp cuts. This is the first time that the Centre has scrapped the notified interest rates on small savings schemes after switching to a quarterly interest rate setting system in April 2016.</p><p style="text-align:justify">The government appears to have had a rethink owing to a sharp backlash on social media about the middle class being squeezed. Retail inflation has been breaching the 6% mark and the government has also decided to tax Employees PF savings starting this year.</p><p style="text-align:justify">&ldquo;Interest rates of small savings schemes of GoI shall continue to be at the rates which existed in the last quarter of 2020-2021, ie, rates that prevailed as of March 2021. Orders issued by oversight shall be withdrawn,&rdquo; Finance Minister Nirmala Sitharaman said in a tweet early Thursday morning.</p><p style="text-align:justify">The government resets the interest rate on small savings instruments every quarter, but this round of rate cuts was significant after three quarters of the rates being left untouched. The last round of rate reductions was in the April to June quarter of 2020, when small savings rates had been cut between 0.5% and 1.4%.</p><p style="text-align:justify">The rates notified on Wednesday night for the April to June 2021 quarter were 40 basis points (0.4%) to 110 basis points (1.1%) lower on various instruments.</p><p style="text-align:justify">The sharpest cut was proposed in the quarterly interest rate paid on one year term deposits, from 5.5% in the January to March quarter to 4.4% in this quarter. The rate of return on the Senior Citizen Savings&rsquo; Scheme was cut from 7.4% to 6.5%, while the Sukanya Samriddhi Account Scheme&rsquo;s return was reduced from 7.6% to 6.9%.</p><p style="text-align:justify">The rate of return on the popular Public Provident Fund (PPF) scheme was reduced from 7.9% to 7.1% last April and further slashed to 6.1% for this quarter, before the minister announced the rollback on Thursday morning.</p><p style="text-align:justify">Please <a href="https://www.thehindu.com/business/government-withdraws-order-on-rate-cut-on-small-savings-schemes/article34211710.ece?homepage=true" title="https://www.thehindu.com/business/government-withdraws-order-on-rate-cut-on-small-savings-schemes/article34211710.ece?homepage=true">click here</a> to read more.</p>                                                           
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    <br><a href="https://www.thehindu.com/business/government-withdraws-order-on-rate-cut-on-small-savings-schemes/article34211710.ece?homepage=true" class="re" target="_blank">The Hindu, 1 April, 2021. https://www.thehindu.com/business/government-withdraws-order-on-rate-cut-on-small-savings-schemes/article34211710.ece?homepage=true</a><div class="clear"></div>
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Government withdraws order on rate cut on small savings schemes -Vikas Dhoot

Published on Apr 1, 2021   Modified on Apr 1, 2021

-The Hindu This is the first time that the Centre has scrapped the notified interest rates on small savings schemes after switching to a quarterly interest rate setting system in April 2016. Hours after notifying significant cuts in small savings instruments’ returns for this quarter, the government has backtracked on these sharp cuts. This is the first time that the Centre has scrapped the notified interest rates on small savings schemes after switching to a quarterly interest rate setting system in April 2016. The government appears to have had a rethink owing to a sharp backlash on social media about the middle class being squeezed. Retail inflation has been breaching the 6% mark and the government has also decided to tax Employees PF savings starting this year. “Interest rates of small savings schemes of GoI shall continue to be at the rates which existed in the last quarter of 2020-2021, ie, rates that prevailed as of March 2021. Orders issued by oversight shall be withdrawn,” Finance Minister Nirmala Sitharaman said in a tweet early Thursday morning. The government resets the interest rate on small savings instruments every quarter, but this round of rate cuts was significant after three quarters of the rates being left untouched. The last round of rate reductions was in the April to June quarter of 2020, when small savings rates had been cut between 0.5% and 1.4%. The rates notified on Wednesday night for the April to June 2021 quarter were 40 basis points (0.4%) to 110 basis points (1.1%) lower on various instruments. The sharpest cut was proposed in the quarterly interest rate paid on one year term deposits, from 5.5% in the January to March quarter to 4.4% in this quarter. The rate of return on the Senior Citizen Savings’ Scheme was cut from 7.4% to 6.5%, while the Sukanya Samriddhi Account Scheme’s return was reduced from 7.6% to 6.9%. The rate of return on the popular Public Provident Fund (PPF) scheme was reduced from 7.9% to 7.1% last April and further slashed to 6.1% for this quarter, before the minister announced the rollback on Thursday morning. Please click here to read more.

The Hindu, 1 April, 2021. https://www.thehindu.com/business/government-withdraws-order-on-rate-cut-on-small-savings-schemes/article34211710.ece?homepage=true

Tagged with: Small Saving Schemes Small Savings Schemes PPF Public Provident Fund Senior Citizen Savings’ Scheme Sukanya Samriddhi Account Scheme National Savings Certificate Kisan Vikas Patra

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