2017
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Savings Schemes
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Pradhan Mantri Sukanya Samriddhi Yojana (PMSSY)
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Pradhan Mantri Suraksha Bima Yojana (PMSBY)
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Kisan Vikas Patra (KVP)
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Detailed explanation-1: -Small savings scheme: Government keeps interest rate on NSC, PPF, others unchanged-Times of India.
Detailed explanation-2: -These schemes – Senior Citizens Savings Scheme (SCSS) and Pradhan Mantri Vaya Vandana Yojana (PMVVY) offer higher rates of interest than prevailing FD rates.
Detailed explanation-3: -The Government of India decided to increase the interest rate for NSC from 6.8% to 7% on 30 December 2022. The interest rate will be applicable on all the investments made during the first quarter for the year 2023.
Detailed explanation-4: -Fixed Deposits (FD) are investment instruments offered by banks and non-banking financial companies, where one can deposit money for a higher rate of interest than savings accounts.
Detailed explanation-5: -Government has increased interest rates on various small savings schemes for the fourth quarter of the current Financial Year starting from 1st January 2023. The interest rate of five year National Saving Certificate has been increased to 7 per cent from 6.8 per cent.