Govt rules out increase in interest rate on small savings, PF

New Delhi, Aug 1 (UNI) Finance Minister P Chidambaram today ruled out increasing rate of interest on small savings and provident fund.

Replying to supplementaries in the Rajya Sabha, Mr Chidambaram said there no proposal to raise interest on samll savings and provident fund.

Answering the main question which related to the credit and deposit growth in banks, he said deposit growth was good but credit growth was very buoyant this year.

A meeting was held between Governor of the Reserve Bank of India and a delegation of the Indian Banks' Association on March 28 this year at which issues like credit growth, market liquidity, cash reserve ratio and so on were discussed, Mr Chidambaram said.

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