COMMITTEES

Shyamala Gopinath Committee Recommendations
The Union Government on 4 March 2014 decided to hike interest rates on fixed deposit schemes offered by post offices by up to 0.2 %. The decision to hike interest rates is taken on the recommendations of Reserve Bank of India (RBI) Deputy Governor Shyamala Gopinath Committee.As per the Shyamala Gopinath Committee’s recommendations -  The interest rate on fixed deposits for one and two years has been increased to 8.4% from the present 8.2%. Fixed deposits of three and five years will earn 0.1% higher rate at 8.4% and 8.5%. The rate on National Savings Scheme (NSC) with 5 and 10 year maturities also remain unchanged at 8.5 % and 8.8 %. The new interest rates on small savings schemes will come into effect from April 1, 2014.


 

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