The financial year ended with a rather cruel joke on scores of savers who hold their money dearly into small savings instruments. Many people thought of the news announcement as pure statistics detailing how the cut was just 10 basis points or 0.1 per cent. Some went to explain that 100 basis points is equal to one per cent. In case of the most talked of financial instruments – PPF, the cut meant on a full Rs 1.5 lakh savings in a financial year, the loss in earnings on the deposit was a mere Rs 150 in a year.