UNCHANGED RATES
The finance ministry continued the same interest rates applicable on small savings schemes for the quarter July–September 2022. The move comes at a time when interest rates are on the rise and so is inflation. Since 2020-21, the small savings interest rates have not been revised, with PPF and NSC continuing to draw an annual interest rate of 7.1 per cent and 6.8 per cent, respectively. For small savers, the same interest rate helps in continuity in the way they have invested in these schemes and provides them predictability in the way their savings would grow in these schemes.