Finance Ministry Update: New Interest Rates for Non-Government Funds

The Ministry of Finance, Department of Economic Affairs, New Delhi, issued a significant notification on June 10, 2024. This notification concerns the adjustment of interest rates for deposits under the Special Deposit Scheme for Non-Government Provident, Superannuation, and Gratuity Funds. Effective from April 1, 2024, to June 30, 2024, the interest rate has been revised to 7.1%. This revision aligns with the earlier announcement in Notification No. F.16(1)-PD/75 dated June 30, 1975. The alteration marks a notable adjustment in the interest rate regime for the specified period. This move could impact various non-government funds, influencing decisions regarding investments and savings strategies. It’s essential for stakeholders to stay informed about such changes to make informed financial decisions. Stay tuned for further updates and analyses on economic policies and their implications. This notification was published on June 10, 2024.