The Central
and State Governments have taken various measures from time to time to promote
and popularize small savings schemes through print and electronic media by way
of holding seminars, meetings and providing training to various agencies
involved in mobilizing deposits under the schemes.
Further, with a
view to sustaining investor’s interest in the small savings schemes, the
features of the schemes are reviewed from time to time and various improvements
and amendments in the schemes are introduced.
·
With effect from 1.12.2011,
interest on Post Office Savings Account has been increased from 3.5% to 4% per
annum.
·
Maturity period of Monthly Income
Scheme (MIS) and National Savings Certificate (NSC-VIII Issue)
reduced from 6 years to 5.
·
New NSC (IX-Issue) instrument,
with maturity period of 10 years, introduced.
·
Annual ceiling on investment
under Public Provident Fund (PPF) Scheme increased to Rs.
1 Lakh.
·
Liquidity of Post Office Time
Deposit (POTD)-1, 2, 3 & 5 years improved by allowing premature withdrawal
at the rate 1% less than the time deposits of comparable maturity.
·
For premature withdrawal between 6-12 months
of investment, Post Office Savings Account(POSA) rate
of interest will be paid.
The Postal Department has entered into agreements with the following organisations including financial institutions to sell
their products through the post offices in the country :
|
Sl.
No.
|
Name of
Company/Financial Institutions
|
Description
of product/service
|
|
1
|
Western
Union Financial Services Inc.
|
International
Money Transfer to India
|
|
2
|
MoneyGram Payment Systems Inc.
|
International
Money Transfer to India
|
|
3
|
UTI
Mutual Funds
|
Sale of
UTI Mutual Funds through post offices
|
|
4
|
Pension
Regulatory & Development Authority
|
Point
of Presence for National Pension Scheme accounts.
|
|
5
|
India
Post SBI tie-up
|
Department
sells assets and liability products of SBI through identified postal outlets.
|
|
6
|
Ministry
of Railways
|
Booking/cancellation
of Railway Reserved Tickets under Passenger Reservation System
|
|
7
|
Reliance
Money Infrastructure Limited.
|
Sale of
Gold Coins.
|
|
8
|
Bharat Sanchar
Nigam Ltd.
|
Sale of
Recharge Coupons, Sancharnet Cards etc.
|
This information
was given by the Minister of State for Communications & Information
Technology Shri Sachin Pilot in a written reply in
the Lok Sabha yesterday.
Source : PIB, May 17, 2012
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