Small savings, PF rates not to rise

New Delhi: Finance Minister P Chidambaram ruled out increasing rate of interest on small savings and provident fund.

Speaking in the Rajya Sabha on Tuesday, Chidambaram said there is no proposal to raise interest on small savings and provident fund.

A meeting was held between the Reserve Bank of India Governor Dr YV Reddy and a delegation of the Indian Banks' Association on March 28 this year to discuss issues like credit growth, market liquidity, cash reserve ratio

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