Revision of interest rates: PPF and Senior Citizens Savings Scheme rates updated for the financial year, effective at year start. The Government issued an Office Memorandum advising revised interest rates on the Public Provident Fund and the five-year Senior Citizens Savings Scheme for the financial year, effective from the start of the year; banks operating these schemes are instructed to apply the notified rates in accordance with the schemes' compounding or payment provisions and to inform branch staff and subscribers and display the revisions on branch notice boards.