Various decisions taken by the Government of India on the recommendations of the Shyamala Gopinath Committee for Comprehensive Review of National Small Savings Fund (NSSF), were communicated to all concerned by the Government through its Office Memorandum dated 11^th November, 2011.

One of the decisions of the Government based on the recommendations of the Committee relates to revision of interest rates every financial year, to be notified before 1^st April of that year.  Accordingly with the approval of the Finance Minister, the rates of interest on various small savings schemes for the Financial Year 2014-15 effective from 01.04.2014, on the basis of the interest compounding/payment built-in in the schemes, shall be as under :

Scheme	Rate of interest w.e.f.01.04.2013	Rate of Interest w.e.f. 1.04.2014
1.	2.	3.
Savings Deposit	4.0	4.0
1 Year Time Deposit	8.2	8.4
2 Year Time Deposit	8.2	8.4
3 Year Time Deposit	8.3	8.4
5 Year Time Deposit	8.4	8.5
5 Year Recurring Deposit	8.3	8.4
5 Year SCSS	9.2	9.2
5 Year MIS	8.4	8.4
5 Year NSC	8.5	8.5
10 Year NSC	8.8	8.8
PPF	8.7	8.7

The necessary notifications will be notified separately in this regard in due course. 

Interest rate revision for small savings schemes announced; scheme-specific rates take effect at the start of the financial year. Revision of interest rates for central Government small savings schemes for the financial year 2014-15 is announced pursuant to the Government's decision implementing the Shyamala Gopinath Committee recommendation to undertake an annual revision. The Finance Minister approved scheme-specific rates effective from 01.04.2014, with modest adjustments to several time-deposit and recurring-deposit products and unchanged rates maintained for certain long-term instruments; formal notifications will be issued separately.