Articles published in The Times of India - Mumbai Edition and Asli Azadi, dated 10/12/2019 (Tuesday)
Dear all,
Your association SIMA is forwarding herewith articles published in The Times of India - Mumbai Edition & Asli Azadi, dated 10/12/2019.
1. RBI urges govt to cut rates on small savings schemes: The Times of India.
(FinMin To Review Returns On PPF, PO Deposits At Month-End)
The RBI has urged the government to move forward on reducing interest rates on small savings schemes such as public provident fund (PPF) and post office deposits, to help banks pare rates on deposits and loans and lead to a better transmission of the central bank’s rate cuts.
The central bank believes that a reduction in rates on the small savings schemes, which were left unchanged by the government when they were last reviewed at the end of September, will enable banks to cut deposit rates that have been sticky as banks do not want to lose out on deposits. Banks have argued that in absence of a sharp reduction in small savings rates, depositors will move funds from fixed deposits to these schemes, which offer higher returns, and many of them, such as public provident fund, come with tax benefits, making the real returns much higher...PLEASE CLICK HERE TO VIEW THE ARTICLE.
2. Newspaper article published in Asli Azadi, dated 10.12.2019.
Administrator Praful Patel has taken an initiative for the Portuguese Community...PLEASE CLICK HERE TO VIEW THE ARTICLE.
Thanking you,
With regards,
For Silvassa Industries & Manufacturers Association
Narendra Trivedi
Secretary
