FM Nirmala Sitharaman rolls back small savings rate cut on the morning of crucial polls

No cut in the small savings rate, the decision stands reversed. Finance Minister Nirmala Sitharaman informed worried savers as they were struck with small savings rate cuts that would have taken the PPF rate to the lowest level in 46 years.

The interest rate on small savings schemes shall continue to be at the rates which existed in the last quarter of 2020-2021, announcing on twitter the Finance Minister rolled back the announcement made on Tuesday evening. 

Nirmala Sitharaman clarified on social media that the Orders issued (on small savings rate cut) by oversight shall be withdrawn.