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Concerning the small savings instruments, consider the following statements:
1. The Senior Citizen Savings Scheme's return rate has been reduced from 7.4 percent to 6.5 percent, while the Sukanya Samriddhi Account Scheme's rate of return has been reduced from 7.6 percent to 6.9 percent.
2. The interest rates on National Savings Certificates and Kisan Vikas Patras have been reduced slightly, from 6.8% to 5.9% and 6.9% to 6.2 percent, respectively.
Which of the statements given above is/are incorrect?
  • a)
    1 only
  • b)
    2 only
  • c)
    Both 1 and 2
  • d)
    Neither 1 nor 2
Correct answer is option 'D'. Can you explain this answer?
Verified Answer
Concerning the small savings instruments, consider the following state...
The government has sharply slashed the rates on all small savings instruments for the first quarter of 2021-22.
  • It has brought the rate of return on the Public Provident Fund down from 7.1% to 6.4% and effecting cuts ranging from 40 basis points (0.4%) to 110 basis points (1.1%) through a notification.
  • The sharpest cut was seen in the quarterly interest rate paid on one-year term deposits, from 5.5% in the January to March quarter to 4.4% in this quarter.
  • The return rate on the Senior Citizen Savings' Scheme was cut from 7.4% to 6.5%, while the Sukanya Samriddhi Account Scheme's return was reduced from 7.6% to 6.9%.
  • The interest rate paid on National Savings Certificate and Kisan Vikas Patra were also reduced significantly, from 6.8% to 5.9%, and from 6.9% to 6.2%, respectively. Consequently, the Kisan Vikas Patra, which used to mature in 124 months, will now mature in 138 months.
  • While savings deposits earned the lowest rate of 4% till now, that return has now been further slashed to 3.5%. The return on five-year deposits has been reduced from 6.7% to 5.8% among time deposits.
  • For savers, the option with the highest returns at this point is the Sukanya Samriddhi Account Scheme, followed by the Senior Citizens' Savings Schemes and the Public Provident Fund.
  • While the government resets the interest rate on small savings instruments every quarter, this round of rate cuts assumes significance as the government is keen to lower interest rates to make it easier to execute its borrowing plans for the year and spur growth.
  • The government plans to borrow ₹12.05 lakh crore in 2021-22, on the back of a record gross borrowing of ₹13.71 lakh crore in 2020-21.
  • The central bank has cited high small savings rates as a major impediment in ensuring policy rate cuts get transmitted into the banking system.
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Concerning the small savings instruments, consider the following statements:1. The Senior Citizen Savings Schemes return rate has been reduced from 7.4 percent to 6.5 percent, while the Sukanya Samriddhi Account Schemes rate of return has been reduced from 7.6 percent to 6.9 percent.2. The interest rates on National Savings Certificates and Kisan Vikas Patras have been reduced slightly, from 6.8% to 5.9% and 6.9% to 6.2 percent, respectively.Which of the statements given above is/are incorrect?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'D'. Can you explain this answer?
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Concerning the small savings instruments, consider the following statements:1. The Senior Citizen Savings Schemes return rate has been reduced from 7.4 percent to 6.5 percent, while the Sukanya Samriddhi Account Schemes rate of return has been reduced from 7.6 percent to 6.9 percent.2. The interest rates on National Savings Certificates and Kisan Vikas Patras have been reduced slightly, from 6.8% to 5.9% and 6.9% to 6.2 percent, respectively.Which of the statements given above is/are incorrect?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'D'. Can you explain this answer? for Current Affairs 2024 is part of Current Affairs preparation. The Question and answers have been prepared according to the Current Affairs exam syllabus. Information about Concerning the small savings instruments, consider the following statements:1. The Senior Citizen Savings Schemes return rate has been reduced from 7.4 percent to 6.5 percent, while the Sukanya Samriddhi Account Schemes rate of return has been reduced from 7.6 percent to 6.9 percent.2. The interest rates on National Savings Certificates and Kisan Vikas Patras have been reduced slightly, from 6.8% to 5.9% and 6.9% to 6.2 percent, respectively.Which of the statements given above is/are incorrect?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for Current Affairs 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Concerning the small savings instruments, consider the following statements:1. The Senior Citizen Savings Schemes return rate has been reduced from 7.4 percent to 6.5 percent, while the Sukanya Samriddhi Account Schemes rate of return has been reduced from 7.6 percent to 6.9 percent.2. The interest rates on National Savings Certificates and Kisan Vikas Patras have been reduced slightly, from 6.8% to 5.9% and 6.9% to 6.2 percent, respectively.Which of the statements given above is/are incorrect?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'D'. Can you explain this answer?.
Solutions for Concerning the small savings instruments, consider the following statements:1. The Senior Citizen Savings Schemes return rate has been reduced from 7.4 percent to 6.5 percent, while the Sukanya Samriddhi Account Schemes rate of return has been reduced from 7.6 percent to 6.9 percent.2. The interest rates on National Savings Certificates and Kisan Vikas Patras have been reduced slightly, from 6.8% to 5.9% and 6.9% to 6.2 percent, respectively.Which of the statements given above is/are incorrect?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'D'. Can you explain this answer? in English & in Hindi are available as part of our courses for Current Affairs. Download more important topics, notes, lectures and mock test series for Current Affairs Exam by signing up for free.
Here you can find the meaning of Concerning the small savings instruments, consider the following statements:1. The Senior Citizen Savings Schemes return rate has been reduced from 7.4 percent to 6.5 percent, while the Sukanya Samriddhi Account Schemes rate of return has been reduced from 7.6 percent to 6.9 percent.2. The interest rates on National Savings Certificates and Kisan Vikas Patras have been reduced slightly, from 6.8% to 5.9% and 6.9% to 6.2 percent, respectively.Which of the statements given above is/are incorrect?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'D'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Concerning the small savings instruments, consider the following statements:1. The Senior Citizen Savings Schemes return rate has been reduced from 7.4 percent to 6.5 percent, while the Sukanya Samriddhi Account Schemes rate of return has been reduced from 7.6 percent to 6.9 percent.2. The interest rates on National Savings Certificates and Kisan Vikas Patras have been reduced slightly, from 6.8% to 5.9% and 6.9% to 6.2 percent, respectively.Which of the statements given above is/are incorrect?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'D'. Can you explain this answer?, a detailed solution for Concerning the small savings instruments, consider the following statements:1. The Senior Citizen Savings Schemes return rate has been reduced from 7.4 percent to 6.5 percent, while the Sukanya Samriddhi Account Schemes rate of return has been reduced from 7.6 percent to 6.9 percent.2. The interest rates on National Savings Certificates and Kisan Vikas Patras have been reduced slightly, from 6.8% to 5.9% and 6.9% to 6.2 percent, respectively.Which of the statements given above is/are incorrect?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'D'. Can you explain this answer? has been provided alongside types of Concerning the small savings instruments, consider the following statements:1. The Senior Citizen Savings Schemes return rate has been reduced from 7.4 percent to 6.5 percent, while the Sukanya Samriddhi Account Schemes rate of return has been reduced from 7.6 percent to 6.9 percent.2. The interest rates on National Savings Certificates and Kisan Vikas Patras have been reduced slightly, from 6.8% to 5.9% and 6.9% to 6.2 percent, respectively.Which of the statements given above is/are incorrect?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'D'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Concerning the small savings instruments, consider the following statements:1. The Senior Citizen Savings Schemes return rate has been reduced from 7.4 percent to 6.5 percent, while the Sukanya Samriddhi Account Schemes rate of return has been reduced from 7.6 percent to 6.9 percent.2. The interest rates on National Savings Certificates and Kisan Vikas Patras have been reduced slightly, from 6.8% to 5.9% and 6.9% to 6.2 percent, respectively.Which of the statements given above is/are incorrect?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'D'. Can you explain this answer? tests, examples and also practice Current Affairs tests.
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