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This branch is concerned with implementation of saving schemes run by central and state governments. Small saving schemes like Kisan Vikas Patra, National Saving Certificate (N.S.C.), etc. are implemented by issuing licenses to agents.

Aims And Objectives:

This section is concerned with implementation of small saving schemes run by central and state governments. Ambitious five year plans were introduced to achieve prosperity in less time for the welfare of the majority of the population. For this purpose Loans were required to implement various plans. These loans were made available through Small Savings plans. The main aim of the Small Savings scheme is to cultivate the habit of investment among the people & to guide the depositors to invest in different schemes of the post office as per their needs for their all round development & prosperity. The central government offers the loans to the state governments for various developments. The Small Savings scheme is implemented through the Collector, Assistant Director and Small Savings officers. The whole invested amount in Small Savings is given to the state governments as loan. The period of repayment of loan is 25 years.

There are several type of licensee-agencies: -

i) Standerdised Agency System (S.A.S)
ii) Mahila Pradhan Kshetriya Bachat Yojana.(M.P.K.B.Y)
iii) Public Provident Fund (P.P.F.).

Schemes

The most popular & attractive schemes
are as follows:

1) Five year RD Scheme
2) Monthly Income Scheme
3) Public Provident Fund
4) NSC VIII issue
5) Kisan Vikas Patra.
6) Senior Citizens Savings Scheme 2004

1)Five Year Recurring Deposit Scheme

a) An account can be opened in multiple of Rs.5 & minimum monthly deposit is Rs 10.
b) An account can be opened of any post office & can be transferred from one post office to another anywhere in India.
c) One can open more than one account.
d) Nomination facility is available.
e) Automatic deductions are made at the source by employer on the consent of the employer through Payroll .M.P.K.B.Y Agent will collect the amount from depositor every month & deposit it in the post office.
f) The account can be opened on behalf of a minor & operated either
by mother or father.
g) One can get rebate rupees one on 6 advance deposits & rupees
four on 12 advance deposits of an account of R.10/- denomination.
h) An insurance like benefit is available on the Deposits up to denomination of Rs.50/-.
i) Account can be continued up to ten years.

2) Monthly Income Scheme

This scheme is very popular & useful for the retired persons who want monthly income.
A) 8% interest is paid every month.
B) Minimum deposit is Rs. 1000 & its multiples of maximum Rs.3 Lakhs
to a single holder account & Rs.6 Lakhs to a joint holder account.
C) Maturity period is 6 years.
D) Nomination facility is available.
E) 10% additional bonus on maturity.
F) Transfer facility to any post office.
G) One can close the account after completion of one year.
H) TDS is not deducted either from the interest or capital.

3) Public Provident Fund

It is a unique scheme which provides free interest -8% per annum. This scheme is ideal for people in different income groups.

A) It is an annuity of 15 financial years but the account can be extended beyond 15 years.
B) Minimum amount of Rs.500/- is to deposited in a financial year. Maximum amount that can be deposited is Rs.70,000/-.
C) Nomination facility is available.
D) Subscribers can avail of refundable loans & non-refundable with drawls.

4) KVP NSC VIII issue & time deposits

Apart from these above schemes KVP NSC VIII issue & time deposits
are well known & beneficial schemes of post office.

Money has to be saved from existing incomes, in spite of difficulties, for our own futures needs. The truth now with determination, by saving small amount every month, you can mould year future & become happy & prosperous.

5) PPF Plan

Deposit Rs.10,000/- every year for 16 years & get Rs.2020/- every month through the PPF plan. The plan is follows.

Amount every month	Total amount in 16 years	Interest 8% compound	Total amount at the end of 16 years
500	96000	93830	189830
600	115200	112596	227796
700	134400	131362	265762
800	153600	150128	303728
900	172800	168894	341694
1000	192000	187660	379660

6) Senior Citizens Savings Scheme 2004

Highlights

• One of the most attractive small savings scheme - ideal for VRS takers of the age of 55 years and above and Sr.citizens of 60 years and above.
• Interest @ 9 % per annum payable quarterly.
• Minimum deposit of Rs 1000 and its multiples and maximum Rs 15 Lakhs
• Five years scheme

Essential Documents & Conditions for different agencies

No	Details	SAS agency	MPKBY agency		PPF agency
1	To mortgage agents NSC issue.	Rs.2000/-	Rs.1000/-		Rs.2000/-
2	Two individual guaranteers in given proforma	Each guaranteers of Rs.25000/- Two guaranteers.	Each guaranteer of Rs.10,000/- Two guaranteers.		---
3	Educational Qualifications.	12th or equivalent exam passed in urban /municipal area 10th pass for other area mark list & certificate must produce	12th or equivalent exam passed in urban /municipal area. 10th pass for other area mark list & certificate must produce		12th or equivalent exam must pass for urban & rural areas. Mark list & certificate must produce.
4	Passing certificate of Small Savings agent exam	passing certificate of Small Saving agent exam	passing certificate of Small Saving agent exam		passing certificate of Small Saving agent exam
5	Character & conduct Certificate.	Gazetted officer, Head master of middle school, principal of the college. Certificate in prescribed proforma from any two of the above mentioned authorities.
6	Residential address	Has to submit either a ration card, his own telephone bill, light bill or income tax receipt.
7	Age proof	Has to submit as attested true copy of either 10th pass certificate, birth certificate or Tc.
8	Guarantee letter.	Signature & stamp of the concerned officer on the 20 rupee stamp paper. It is a must for all type agencies.
9	Photo	Each agency needs 4 photos.
10	Change of name of the married woman	Has to submit either marriage certificate a copy of government gazette of changing the name or guarantee on 20 rupee bond paper.
11	Minimum Investment	25 lakhs in Mumbai, Thane & Pune every year 10 lakhs in other areas	10000/-in municipal areas every month & 5000 in other areas	50 new accounts every year in municipal areas 30 in other areas.

Every year world economy day is celebrated in collector office to enlighten the significance of Small Savings in the life of human beings & encourage the depositors & agents. Small Savings officers conduct the training camps for all the agents under the guidance of the collector to make them aware about the changing rates of the different schemes of the Small Savings, banks & LIC.

Achievement

The District has collected the deposits during the last 5 years as follows.

Also check the Directorate of Small Savings Mumbai website at www.maha-ss.com

For further details contact the Assistant Director (S.S.)