RBI bonds scheme discontinued: Chidambaram says it's another cruel blow to citizens

RBI bonds scheme discontinued: Chidambaram says it's another cruel blow to citizens

Former finance minister and senior Congress leader P Chidambaram on May 28 attacked the government for discontinuing the RBI Bonds scheme, saying it is another "cruel blow" to the citizens.

He said the government has dealt another blow to the citizens who save, especially senior citizens, as it has discontinued the 7.75 percent Savings (Taxable) Bonds Scheme also commonly referred to as RBI Bonds scheme.

Deploring the government action, he urged people to demand from the government that the RBI Bond be restored immediately.

"After lowering the interest rates in PPF and small savings instruments, the abolition of the RBI Bond is another cruel blow," he said on Twitter.

Former finance minister and senior Congress leader P Chidambaram on May 28 attacked the government for discontinuing the RBI Bonds scheme, saying it is another "cruel blow" to the citizens.

He said the government has dealt another blow to the citizens who save, especially senior citizens, as it has discontinued the 7.75 percent Savings (Taxable) Bonds Scheme also commonly referred to as RBI Bonds scheme.

Deploring the government action, he urged people to demand from the government that the RBI Bond be restored immediately.

"After lowering the interest rates in PPF and small savings instruments, the abolition of the RBI Bond is another cruel blow," he said on Twitter.