Question

    The Government has revised the rates of interest on a

    few small savings schemes for the fourth quarter of financial year 2023-24 starting from 1st January, 2024 and ending on 31st March, 2024.With respect to the information provided above,choose the correct statements- I.While the interest rates on key small savings schemes such as National Savings Certificate (NSC), Senior Citizens Savings Scheme (SCSS) and Public Provident Fund (PPF) have been kept unchanged at 7.7%, 8.2% and 7.1%, respectively. II.The rates on 3 Year Time Deposit have been marginally increased from 7.0% to 7.3%. III.The rates on Sukanya Samriddhi Account Scheme have been marginally increased from 8.0% to  8.2% respectively. 
    A Only I Correct Answer Incorrect Answer
    B Only I & III Correct Answer Incorrect Answer
    C Only III Correct Answer Incorrect Answer
    D Only II & III Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    The Government has revised the rates of interest on a few small savings schemes for the fourth quarter of financial year 2023-24 starting from 1st January, 2024 and ending on 31st March, 2024. While the interest rates on key small savings schemes such as National Savings Certificate (NSC), Senior Citizens Savings Scheme (SCSS) and Public Provident Fund (PPF) have been kept unchanged at 7.7%, 8.2% and 7.1%, respectively, the rates on 3 Year Time Deposit and Sukanya Samriddhi Account Scheme have been marginally increased from 7.0% and 8.0% to 7.1% and 8.2%, respectively, which may give some relief to those looking to invest in these schemes.

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