Latest news with #SSY
Fashion Value Chain
2 days ago
- Business
- Fashion Value Chain
Grasim Industries' Cellulosic Fashion Yarn Business will be launching an Innovative Sustainable & Traceable Filament Yarn at the 7th edition of Yarn Expo in Surat.
Grasim Industries' Cellulosic Fashion Yarn business will be launching a transformative offering under the trusted Raysil brand, featuring sustainable Viscose Filament Yarn (VFY) that is fully traceable to its origin. The brand will be unveiled at the 7th edition of Yarn Expo in Surat, hosted by The Southern Gujarat Chamber of Commerce and Industry. Satyaki Ghosh, CEO of Cellulosic Fashion Yarn business, Grasim Industries Ltd informed ' This launch reflects our drive to evolve with dynamic market needs and delivering value where performance, responsibility, and trust converge.' He further added: 'This product not only reinforces our commitment to sustainability and end-to-end traceability but also empowers our value chain partners with confidence to verify and trust every filament they use.' A key differentiator of the product will be its integration of both physical and digital traceability technologies, ensuring transparency at every stage. By addressing the growing demand for transparency in the fashion industry, it will enable brands and partners to authenticate products and verify responsible sourcing across the entire supply chain. The product will be manufactured at Grasim's strategically located plants at Kalyan (Maharashtra) and Veraval (Gujarat). Raysil is a premium brand of luxurious Viscose Filament Yarn made from 100% natural wood pulp, it remains the only player globally offering three distinct technologies in Viscose Filament Yarn: Pot Spun Yarn (PSY), Continuous Spun Yarn (CSY), and Spool Spun Yarn (SSY).
India Today
16-07-2025
- Business
- India Today
SSY scheme: How your daughter can get Rs 71 lakh at 21
The government runs many schemes to secure the future of daughters, and Sukanya Samriddhi Yojana (SSY) is one of the most popular. It supports parents in saving money for their daughter's higher education and marriage, helping her receive around Rs 71 lakh when she reaches 21 if planned well. LAUNCHED IN 2015Sukanya Samriddhi Yojana was launched in January 2015 under the 'Beti Bachao, Beti Padhao' is a small savings scheme backed by the government, which offers high interest rates, tax benefits under Section 80C, and tax-free returns on maturity. Over 4.1 crore accounts have been opened so far under this INTEREST AND TAX SAVINGSSSY offers an attractive interest rate of 8.2%, which is usually more than what banks offer on FDs. The government guarantees the money you invest, so it is completely safe. Also, you can claim up to Rs 1.5 lakh in tax deductions every year under Section CAN OPEN AN SSY ACCOUNT?Parents or legal guardians can open an SSY account for a girl child up to the age of 10. Only one account can be opened for one daughter.A birth certificate, an ID proof and an address proof are needed to open the account. The account can be opened easily at the nearest post office or any bank AND HOW TO USE THE MONEYThe SSY account matures 15 years after opening. Money can be partially withdrawn for higher education once the girl turns account reaches full maturity when she turns 21, but if she gets married before that, the account must be closed at the time of TO GET Rs 71 LAKHIf you deposit Rs 1.5 lakh every year for 15 years, then on maturity, the amount grows to nearly Rs 71,82, of this, Rs 22.5 lakh is your saving, while the remaining Rs 49.32 lakh is the interest earned. The best part is, the entire amount is tax-free when you withdraw it must be mentioned that from October 1, 2024, only parents or legal guardians can manage an SSY account. If someone else opened the account, it must be transferred to the legal guardian or parents, or it will be closed.(Disclaimer: This article is for general informational purposes only and does not constitute financial advice. Readers are encouraged to consult a certified financial advisor before making any investment or financial decisions. The views expressed are independent and do not reflect the official position of the India Today Group.)- Ends
News18
13-07-2025
- Business
- News18
This Beti Bachao Beti Padhao Scheme Offers 8.2% Returns: Check Features, Eligibility, Steps To Apply
Under this campaign, one of the most important schemes is Sukanya Samriddhi Yojana (SSY). The SSY scheme encourages savings for a girl child's future. It offers high interest rates and tax benefits, helping parents or guardians secure funds for the education and marriage expenses of the daughters. Benefits of Sukanya Samriddhi Yojana: The SSY scheme, meant for girls below 10 years, offers many benefits. One can open an account under this scheme with as less as Rs 250 deposit, claim tax deductions and get attractive returns. At present, the scheme offers 8.2% returns p.a., which is subject to periodic review by the government. The maximum deposit allowed in this scheme is capped at Rs 1.5 lakh per financial year. Once started, the deposits must continue for 15 years. The account matures 21 years from the opening date. Sukanya Samriddhi Yojana Eligibility: A Sukanya Samriddhi Yojana account can be opened by parents or legal guardians for a maximum of two girl children. The age of the child must be 10 years or below. After the girl turns 18, 50% of the savings can be withdrawn for education, with valid admission proof required. Sukanya Samriddhi Yojana Tax Benefits: Sukanya Samriddhi Yojana scheme comes with triple tax benefits. Deposits up to Rs 1.5 lakh per financial year qualify for deductions under Section 80C of the income tax rules. Parents can use this scheme to lower their taxable income during ITR filing. The interest accrued under this scheme is exempt from tax and is compounded annually. The amount received upon maturity is also free from tax. Steps To Apply For Sukanya Samriddhi Yojana: Fill the SSY Account Opening Form: Reach out to your bank or a post office and fill out the official Sukanya Samriddhi Yojana account form. Submit documents such as girl child's birth certificate, guardian's ID and address proof, Aadhaar or passport, etc Deposit any amount between Rs 250 and Rs 1.5 lakh in a particular financial year to start the account.
News18
30-06-2025
- Business
- News18
Govt Keeps Small Savings Schemes' Interest Rates Unchanged For July-September 2025 Quarter
Last Updated: PPF, Post Office FD, SSY, NSC Interest Rates For July-September 2025: The government maintains current interest rates on small savings schemes; check the latest rates here. PPF, Post Office FD, SSY, NSC Interest Rates: The government on Monday, June 30, 2025, announced that the interest rates on small savings schemes, including PPF, SSY, NSC, and post office deposits, will remain unchanged for the second quarter of FY 2025-26 (from July 1, 2025 to September 30, 2025), according to a finance ministry notification. 'The rates of interest on various small savings schemes for the second quarter of FY 2025-26 starting from 1st July, 2025 and ending on 30th September, 2025 shall remain unchanged from those notified for the first quarter (1st April, 2025 to 30th June, 2025) of FY 2025-26," the finance ministry said in a notification on Monday. Analysts had expected a cut in the interest rates. Latest Interest Rates On Small Savings Schemes Sukanya Samriddhi Scheme Deposits: under the Sukanya Samriddhi scheme will continue to attract an interest rate of 8.2%. Three-Year Term Post Office Deposit: The interest rate on a three-year term deposit remains at 7.1%. Public Provident Fund (PPF) and Post Office Savings Deposit: The interest rates for Public Provident Fund (PPF) and post office savings deposit schemes will remain unchanged at 7.1% and 4%, respectively. Kisan Vikas Patra: The interest rate on the Kisan Vikas Patra will be 7.5%, with investments maturing in 115 months. The government last revised some schemes' rates for the fourth quarter of 2023-24. Interest rates on small savings schemes are notified by the government every quarter. The central government is mandated to review and set interest rates for small savings schemes every quarter. Interest rates on post office schemes are determined based on the methodology suggested by the Shyamala Gopinath Committee. What Are Small Savings Schemes? Small savings schemes are government-backed deposit schemes designed to promote savings among Indian citizens, especially those with low to moderate incomes. They are considered safe investments and are offered through post offices and select banks. Popular schemes include Public Provident Fund (PPF), National Savings Certificate (NSC), Sukanya Samriddhi Yojana (SSY), Senior Citizen Savings Scheme (SCSS), Post Office Monthly Income Scheme (POMIS), Time Deposits and Recurring Deposits, Interest rates on these schemes are reviewed quarterly by the government and are influenced by the yield trends in the secondary market for government securities.
India Today
26-06-2025
- Business
- India Today
Are your savings at risk? Government may slash PPF, NSC rates next week
The government may lower interest rates on small savings schemes like the Public Provident Fund (PPF), National Savings Certificate (NSC), and others during its upcoming quarterly review on June 30, 2025, reported The Economic Times (ET).If rates are revised, the changes will come into effect from July 1 for the July–September quarter of far this year, interest rates for schemes such as Sukanya Samriddhi Yojana (SSY), Senior Citizens Savings Scheme (SCSS), and Post Office term deposits have remained unchanged. However, this may not continue in the next A RATE CUT IS BEING CONSIDEREDOne of the key reasons behind this expected change is the Reserve Bank of India's decision to cut the repo rate by a total of 1% so far in 2025. The central bank reduced the repo rate in February and April by 25 basis points each, followed by a larger 50 basis points cut in have already responded by lowering interest rates on fixed deposits. Some have even discontinued special FDs that offered higher returns for limited yields, which influence the interest rates of small savings, have also fallen. According to the 10-year government bond yield dropped from 6.779% on January 1 to 6.247% by June 24 — a decline of 0.532%. Lower bond yields are usually a sign that small savings rates may be THESE RATES ARE CALCULATEDInterest rates for small savings are set based on the Shyamala Gopinath Committee's recommendations. The formula uses the average yield of government securities in the secondary market and adds a 25-basis-point instance, the average 10-year G-sec yield between March 24 and June 24, 2025, is 6.325%. Adding 25 basis points brings it to 6.575%. Currently, PPF offers 7.10%, which is much higher than the formula suggests. This difference is why a cut is being considered, though the government may still choose to hold rates to ET, Rajani Tandale, Senior Vice President – Mutual Fund at 1 Finance, said the RBI's 50-basis-point cut in June, along with earlier reductions, brings the total repo rate cut in 2025 to 1%. She said this aligns with the central bank's aim to support growth by lowering borrowing costs.'As a result, interest rates for small savings schemes are likely to be lowered,' she said, while noting the final call will depend on the government's review and current market Shinghal, Founder and CEO of Scripbox, also told ET, 'SSS rates, while administratively set, are typically aligned with prevailing interest rate trends and yields on government securities.'He added that several banks have already reduced fixed deposit rates, and this shows broader rate transmission is happening. According to him, it is likely that PPF, SSY, and NSC interest rates could be cut by 25 to 50 basis Sarkar, Co-Founder of Wealth Redefine, shared a slightly different explained that while a 1% cut in repo rate points towards lower returns on small savings, the decision isn't automatic.'These schemes are lifelines for pensioners, retirees and middle-class households. A big cut could hurt them, especially when inflation is low and FD rates are already falling,' he told added that while a small cut of 0.1% to 0.3% is possible, a sharp drop seems unlikely. The government, he noted, may even choose to keep rates steady to protect INVESTORS SHOULD DO NOWThose planning to invest in small savings schemes should consider doing so before June 30. If they invest before the new rates take effect on July 1, their returns, especially for time-bound schemes like NSC, SCSS, and time deposits, will remain locked at the current rates until and SSY, however, are not fixed-rate investments. Their interest rates change over time and are calculated monthly. So, even if you invest now, future interest payments could be affected by a rate said 'Investors may consider locking into current Small Savings Scheme rates before the revision.' He also suggested that in a falling interest rate environment, long-term debt funds and target maturity bonds might become attractive alternatives for those looking to preserve real returns.(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)- EndsMust Watch advertisement
