SB Order 23(A)/2023 Addendum - Regarding the revision of interest rates for Small Savings Schemes which effective from 01.01.2024
The Government of India, through the Ministry of Communications, Department of Posts, has recently issued an update to SB Order No. 23/2023 from December 29, 2023, concerning the adjustment of interest rates for Small Savings Schemes starting January 1, 2024. This addendum, dated February 16, 2024, acts as a notice to all Heads of Circles/Regions, instructing them to take necessary actions following the revised interest rates.
It emphasizes the release of gazette notifications by the Department of Economic Affairs, Ministry of Finance, related to the fourth quarter of the fiscal year 2023-24. Included in the addendum are copies of two significant notifications from February 12, 2024: the National Savings Time Deposit (Amendment) Scheme, 2024 (G.S.R. 108(E)), and the Sukanya Samriddhi Account (Amendment) Scheme, 2024 (G.S.R. 109(E)).
These notifications signify adjustments in interest rates for specific Small Savings Schemes, reflecting the government's efforts to align rates with economic conditions and policy objectives. The addendum, approved by the Competent Authority, features Assistant Director (SB-II), Devender Kumar Sharma's endorsement.
This announcement demonstrates the government's dedication to ensuring the competitiveness and appeal of Small Savings Schemes, promoting financial inclusion and encouraging savings. It's crucial for stakeholders and beneficiaries to take note of the revised rates and any associated amendments to make informed financial decisions.
Individuals and investors are encouraged to explore the updated terms of these schemes, viewing them as viable avenues for wealth accumulation and financial stability. The addendum plays a vital role in communicating information and facilitating compliance with revised regulations governing Small Savings Schemes in India.
%202023.png "SB Order 23(A)/2023") |
| SB Order 23(A)/2023 |