Govt of India increases interest on 5-year recurring deposit to 6.7% for Dec quarter

New Delhi: The Government of India today raised interest rates on 5-year recurring deposits to 6.7% for the December quarter, while keeping rates for other small savings schemes unchanged.  The effective hike in the five-year recurring deposites is 20 basis points. In June this year, the Government of India had increased interest on selected small saving schemes by upto 0.3 percent for the July-September quarter.