Interest on treasury deposits hiked by 0.50 per cent: Isaac

KOZHIKODE: The state government has decided to increase interest rate on Treasury deposits by 0.50 per cent from the prevailing eight per cent, Finance Minister Thomas Isaac said here on Wednesday.

The interest rate for treasury deposit is increased to 8.5 per cent with effect from Wednesday and senior citizens would continue to enjoy additional 0.50 per cent interest on their savings in treasuries, Isaac told reporters.

The government employees, retired from service this year after attaining 55 years, would also enjoy additional 0.50 per cent interest on the deposit as being enjoyed by senior citizens, he said adding government planned to mobilise additional Rs 750 crore by way of treasury deposit.

Tenders have been invited for computerising all the treasuries and ATMs would come up by August-September this year, he said adding 60 new treasuries would be set up during the year