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.
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.
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.
(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.
maturity period of 10 years, introduced.
• Annual ceiling on investment under Public
Provident Fund (PPF) Scheme increased to Rs. 1 Lakh.
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.
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.
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 :Ministry
of Communications & Information Technology17-May, 2012 18:09 IST
entered into agreements with the following organisations including financial
institutions to sell their products through the post offices in the country :Ministry
of Communications & Information Technology17-May, 2012 18:09 IST
|
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, SancharnetCards etc. |
This information was given by
the Minister of State for Communications & Information Technology
ShriSachin Pilot in a written reply in the Lok Sabha yesterday.
the Minister of State for Communications & Information Technology
ShriSachin Pilot in a written reply in the Lok Sabha yesterday.
PIB
(Release ID :84076)
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