Which of the following statements is/are correct regarding the changes made to small savings schemes by the Government of India in December 2022?

A. The interest rate of five-year National Saving Certificate has been increased to 7\% from 6.8\%.

B. The interest rate on senior citizen saving schemes increased to 8\% from 7.6\%.

C. The interest rate on Public Provident Fund, Sukanya Samriddhi Account and Saving Deposit have been changed 9\% from 7.5\%.

Question

Which of the following statements is/are correct regarding the changes made to small savings schemes by the Government of India in December 2022?

A. The interest rate of five-year National Saving Certificate has been increased to 7\% from 6.8\%.

B. The interest rate on senior citizen saving schemes increased to 8\% from 7.6\%.

C. The interest rate on Public Provident Fund, Sukanya Samriddhi Account and Saving Deposit have been changed 9\% from 7.5\%.

Accepted Answer

**Solution:**

1. Statement A is correct: The Government of India increased the interest rate for the five-year National Savings Certificate from 6.8\% to 7\% in December 2022.

2. Statement B is correct: The interest rate on the Senior Citizen Savings Scheme was raised from 7.6\% to 8\% during the same revision.

3. Statement C is incorrect: The interest rates for Public Provident Fund (PPF), Sukanya Samriddhi Account, and Savings Deposit were not changed to 9\% from 7.5\% in December 2022. These rates remained unchanged.

**Answer:** A and B only

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