"The 8 per cent Savings Bonds Scheme, also known as RBI Bonds Scheme, is not being closed. 8 per cent Scheme is being replaced by 7.75 per cent Savings Bonds Scheme," Economic Affairs Secretary S C Garg said in a tweet.
These taxable bonds are meant for individuals other than non-resident Indians with no maximum limit for investment.
In 2003, the government came out with bonds offering 8 per cent interest to encourage retail investors to invest.
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