RBI Bonds to see interest rate drop with cut in small savings rates
In a notification today, the Government cut the interest on NSCs by 0.9% from 6.8% to 5.9%
The Government of India Savings Bonds (Taxable), popularly called the RBI bonds will see a drop in their interest rate following a cut in the interest rate for small savings schemes. The interest rate on the RBI bonds is linked to the rate on National Savings Certificates (NSCs) with a 0.35% gap and is reset every 6 months. In Jan 2021 the rate was 7.15% given the 6.8% interest rate on NSCs. In a notification today, the Government cut the interest on NSCs by 0.9% from 6.8% to 5.9%.
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