Indian Banks Association urges govt to lower rates on small savings scheme

interest rateThe Indian Banks Association (IBA) has urged the Ministry of Finance to bring down interest rates on small savings schemes such as the Sukanya Samridhi and National Savings Scheme.

Currently, the interest rates offered in the various small savings schemes are in the range of 9-9.10 per cent.

According to report, IBA Chairman TM Bhasin recently met the ministry. “We have requested the finance ministry to bring down interest rates on small savings schemes such as the Sukanya Samridhi and National Savings Scheme,” Bhasin said.

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