Govt. hikes interest rates on recurring deposit scheme

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Govt. hikes interest rates on recurring deposit scheme

The government added 20 basis points to the interest rate on five-year recurring deposit scheme for the October-December quarter. The interest rates have been hiked from 65% to 67%. All other small savings instruments will be subject to the same interest rates.

The revised rates were notified on 29 September by the Department of Economic Affairs of the Ministry of Finance.