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PPF rate cut: Narendra Modi government has cut the interest rates on various small savings schemes and public provident fund (PPF), saying banks are not able to reduce their lending rates as interest on these small deposits were high. PPF rates have been as high as 12 percent for the first 15 years and have come down to average around 8.5 percent in the last 15 years. Check out how much the PPF rate cut is (and on other small schemes) and their current status in 5 points: (Express Photo)
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1. Public Provident Fund (PPF) rate cut was from 8.7 percent to 8.1 percent. (Reuters)
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2. National Savings Certificate (NSC) rate cut was from 8.5 percent to 8.1 percent. (PTI)
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3. Kisan Vikas Patra (KVP) rate cut was from 8.7 percent to 7.8 percent.
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4. 5-year recurring deposit (RD) rate cut was from 8.4 percent to 7.4 percent.
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5. Even the girl child scheme Sukanya Samridhhi Account (SSA) was not spared, with a cut from 9.2 percent to 8.6 percent.

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