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of <h1>Central Government Can Relax Kisan Vikas Patra Rules 1988 for Hardship; New Interest Rates Effective January 1</h1> The Central Government has the authority to relax certain provisions of the Kisan Vikas Patra Rules, 1988, if they cause undue hardship to certificate holders, ensuring compliance with the Act. Recent changes in interest rates for small saving schemes, effective from January 1, apply only to new deposits. Existing deposits in schemes like Kisan Vikas Patras and others will maintain their original interest rates. The decision to reduce rates aligns with recommendations from a committee evaluating small savings schemes, aiming to benchmark interest rates to those of similar instruments in banks and financial institutions.
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