<h1>Government Adjusts Small Savings Scheme Rates Quarterly; Social Schemes Retain Spreads; PPF Premature Closure Now Allowed.</h1> Effective April 1, 2016, the Government will recalibrate interest rates for small savings schemes quarterly to align them with market rates of government securities. Socially significant schemes like Sukanya Samriddhi Yojana and the Senior Citizen Savings Scheme will retain their current interest spreads. Long-term instruments such as 5-year Term Deposits and Public Provident Fund will also maintain their spreads. However, spreads for shorter-term deposits will be removed to align with banking sector rates, aiming for a lower interest rate regime. Additionally, premature closure of PPF accounts will be allowed under specific conditions with a penalty.