Rationalisation of SchemesDownload Complete Decision by The Govt Press release
- The maturity period for Monthly Income Scheme (MIS) and National Savings Certificate (NSC) will be reduced from 6 years to 5 years.
- A new NSC instrument, with maturity period of 10 years, would be introduced.
- Kisan Vikas Patras (KVPs) will be discontinued.
- The annual ceiling on investment under Public Provident Fund (PPF) Scheme will be increased from ` 70,000 to ` 1 lakh.
- Interest on loans obtained from PPF will be increased to 2% p.a. from existing 1%p.a.
- Liquidity of Post Office Time Deposit (POTD) – 1, 2, 3 & 5 years – will be improved by allowing pre-mature withdrawal at a rate of interest 1% less than the time deposits of comparable maturity. For pre-mature withdrawals between 6-12 months of investment, Post Office Savings Account (POSA) rate of interest will be paid.