Election Eve 'Oversight': U-Turn On Interest Cuts

PUBLISHED ON: April 1, 2021 | Duration: 6 min, 58 sec

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Wednesday's announcement by the Finance Ministry saw interest rates on schemes such as the National Savings Certificates and Public Provident Fund (PPF) being cut of up to 1.1 per cent for the first quarter of 2021-22 in a massive blow to middle class depositors. However, on Thursday morning, Finance Minister Nirmala Sitharaman announced that last evening's orders were a case of "oversight". The opposition asks why did they suddenly remember that elections were on?
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