Govt to ensure 8% interest on fixed deposits by senior citizens, pensioners: Jaitley

03 August, New Delhi

Union Finance Minister Arun Jaitley said, the government will ensure 8 per cent guaranteed interest on fixed deposits by senior citizens and pensioners.

He was responding to the demand made in the zero hour by Derek O Brien of the TMC, who said that the post-demonetization and post-GST, the interest rates have come down affecting the living condition of the pensioners and poor.

Jaitley said, the 8 per cent guaranteed scheme was launched by LIC of India. Some members wanted a discussion on the issue.