The Ministry of Finance, Department of Economic Affairs, has issued a Notification (F. No. 5(3)-B(PD)/2023) dated January 02, 2024 stating that deposits made under the Special Deposit Scheme for Non-Government Provident, Superannuation, and Gratuity Funds will now earn an interest rate of 7.1% from January 1, 2024, to March 31, 2024. This adjustment in interest rate replaces the previous rate and is applicable as per the Ministry’s announcement in their notification No.F.16(1)-PD/75 dated June 30, 1975. The new rate of 7.1% will remain in effect starting January 1, 2024.
The Notification can be accessed at: https://a2z-bucket.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/01/MINISTRY-OF-FINANCE-Department-of-Economic-Affairs-NOTIFICATION-02.01.2024.pdf