Achivments> Small Savings
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Small Savings
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"SAVE TO DAY SMILE TOMORROW"

District Small Savings Organization

An Introduction:-

_______Small Savings have assumed an important role in generating internal resources for the State as 100% of Small Savings net collection is available to State Govt. From Govt. of India in shape of loan assistance on soft term basis. In the current year's Budget estimate, a sum of Rs.1000/- corers has been projected as receipt of loan assistance against Small Saving collection. According the Govt. in Finance Deptt. have fixed the target for motrilisation of Small Savings collection .


Target & Achievement :-

Year
Achievement
Target
Percentage
1999-2000 18.18 Cr. 17 Cr. 106%
2000-2001 23.67 Cr. 20 Cr. 118%
2001-2002 18.78 Cr. 24 Cr. 65%
2002-2003 18.83 Cr. 17 Cr. 110%
2003-2004 20.49 Cr. 25 Cr. 82 %
2004-2005 33.18 Cr. 23 Cr. 144 %
2005-2006 37.50 Cr. 36 Cr. 104 %
2006-2007 29.74 Cr. 42 Cr. 70.8%
2007-2008 6.43 Cr. 33 Cr. 19.49%
2008-2009 14.31 Cr. 20 Cr. 71.55%

Small Savings Incentive Scheme:-

_______For better collection of Small Savings Govt. in Finance Deptt. has introduced the Small Savings incentive Prize Scheme. In the minimum prescribed limit for deposit for participation in the scheme is Rs.1000/- in K.V.P. , N.S.C., P.O.M.I.S, 5 Years R.D. Account and 15 years P.P.F. Account. The draw of the Small Saving Incentive Scheme is twice a year in two series.The period is January to June and July to December each year. The Incentive coupon are being supplied to investors in each Block as well as district headquarters in free of cost to popularize the Small Savings Scheme away the Urban and rural mass of the district. In every series near about 80 to 100 depositors are directly benefited in the District. The key incentive under this scheme is near about 1,05,000 coupons are being issued to the depositor in the District in every series.

Agents:-

_______Small Savings Agent are the grass root level workers for mobilisation of collection of Small Saving in the District. Near about 50 nos of Ladies Agent under M.P.K. R. Y. scheme have been appointed by Collector & District Magistrate and 90 nos of agents under S.A.S have been appointed by the Sub-Collector for promotion of Small Savings in the District.

Small Savings Scheme at a Glance

Sl No
Name of the Scheme
Rate of Interest
Maturity Period
Minimum Deposit
Other facitilities
1 Post Office Savings Bank Account 3.5% Per annum  

Mini Rs 50/-Max

Individuals Rs 1,00,000/-Jointely Rs 2,00,000/-

 Cheque facility available Interest exmpt from Income Tax
2 recurring Deposit Account Rs 10/- account fetches Rs.728.90 on maturity 5 years Account can be continued for another term Rs. 10/- or multiple of Rs.5/- Insurance benefit covered upto Rs. 50/- denomination. Oremature encashment availabe after 3 years.
3

Term Deposit

1 year Account

2 year Account

3 Year Account

5 Year Account

 

6.25%

6.50%

7.25%

7.50%

   Rs 50/- Maximum No limit Interest payble annualy but calculated quartely
4

Public Provident Fund account

 8% per annum compunded quartely 15 years Minimum Rs 500/- Maximum Rs 70,000/- in a financial Year Interest exempted from Incom Tax. Withdrawl is permissable from 7th financial year
5 Post Office Monthly Income Scheme 8% per annum interest Payble monthly 6 years Minimum Rs 1000/- Maximum Limit Individual Rs 3 Lakhs Jointly Rs 6 Lakhs After Completion of six years 10 % bonus also payble on Maturity value
6 Kissan Vikas Patra Money doubles in 8 year 7 Months 8 years 7 months Rs 100/- Maximum No limit Premature facility available after completion of two & half years
7 National Savings Certificate VIII issue 8 % per annum Interest Compunded half-yearly 6 Years Rs 100/- Maximum- No Limit Income Tax rebate available under section 80L & 88 Premature facility available after completition of three years.
8 Deposit Scheme for Retiring Govt. Employess & Public Sector Employees 7% per annum payble half yearly on 30 th june and 31st December 3years Rs 1000/- or multiple thereof Maximum not exceeding the total retirement benefits. Account can be opened in SBI or Selected Nationalised Banks.

 


 
 

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