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MINISTRY OF FINANCE
(Department of Economic Affairs)
NOTIFICATION
New Delhi, the 17th March, 2020
F. No. 13/20/2014-NS.—It is hereby notified that the deposits made under the Senior Citizens Welfare Fund, announced in the Ministry of Finance (Department of Economic Affairs) Notification No. G.S.R. 322(E) dated 18th March, 2016, shall with effect from 1st April, 2019 to 31st March, 2020, bear interest at 6.85% (Six point eight five percent). This rate will be in force with effect from 1st April, 2019.
RAJAT KUMAR MISHRA, Jt. Secy
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This Govt only works for moneybags and squeezes middle class, senior citizens, and ignored the poor.
Acche din ka mazaa aa raha hai sabko
Why our government is taking such a big step? you can further reduce some points on it. my suggestion is that to stop pensions and other facilities to all MP’s and MLA’s those who are above poverty line and utilize the amount on bpl families and sanitation.
It is high time RBI and Finance ministry look into senior citizens. The interest rates offered in various saving scheme and withdrawal conditions and taxation does not realy towards the welfare of them.
6.85% IS TOO MUCH !! WHY NOT MAKE IT ZERO TO HELP SENIOR CITIZENS WHO ARE BEING CONSIDERED AS WORSE THAN BEGGERS IN PRESENT REGIME.
MONEY SAVED BY THE GOVERNMENT CAN BE UTILISED FOR YOUR PERSONAL AMENITIES AND SECURITY !!!