Savings scheme

Who gave the green light to “inadvertently” reduced small savings plan rates? Nirmala Sitharaman herself

On March 31, the Ministry of Finance announced that interest rates on small savings plans would be reduced to 1.1% for the first quarter of 2020-2021. The very next day, presumably fearing a reaction from public opinion, Finance Minister Nirmala Sitharaman withdrew the order, tweeting that it had been “inadvertently issued”. But who was responsible? […]