Power to relax

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....anner not inconsistent with the provisions of the Act. Lowering of interest rates of saving schemes applicable only on fresh deposits The Government today clarified that the changes in interest rates announced on certain small saving schemes with effect from 1st of January this year are applicable only to fresh deposits. Reacting to reports which appeared in a section of the press, the Finance M....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....er the small saving schemes, disbursement of loans to State Governments and cost of small saving schemes. The Committee of Experts, set up at a conference of the Finance Ministers from ten States in November 1997, which discussed issues relating to small savings submitted its report on 7th September, 1998, to the Finance Minister. The Government has in principle agreed with the thrust of most of t....