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Q.

The Govt. proposal to decrease the senior citizen post office savings scheme interest from 9% to 8.7% and the PPF interest increase from 8% to 8.2% in these times of double digit inflation rate ranging between 15 to 20% shows their complete insensitivity to the senior citizens and the middle class. These interest rates must be substantially increased to atleast 12-13%. Will the Government of India please do the needful. If required the Govt. can put a ceiling on the total investment in these schemes to the extent of 30 or 40 lakhs.

Tags: interest, india, money
Asked by mr c, 08 Nov '11 02:47 pm
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Answers (1)

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The govt /post office will see that a lot of people will take out money from there and put them inbanks at the interest of 9.25 percent or more
Answered by iqbal seth, 08 Nov '11 02:48 pm

 
  
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