National Small Savings

Ministry of Finance, Government of India, mobilizes funds through small savings scheme. The funds are mobilized through the net work of Post Offices functioning under the administrative control of Dept. of Posts, Ministry of Communication, Government of India. The funds mobilized through small savings scheme are released to states/Union Territories as long term loans based on the net collections made by them. The loan is repayable over a period of 25 years which includes a moratorium of 5 years.

Government of Puducherry promotes investment under small savings so as to mobilize resources for financing the plan schemes. This department is dealing with National Small Savings Programme from the year 1998 onwards. Presently there are about 50 SAS (Standardised Agency System)/PPF (Public Provident Fund) Agents and 45 MPKBY (Mahila Pradhan Kshetriya Bachat Yojana) Agents in Puducherry Region. SAS Agents are paid 1% commission for business done under NSS Scheme, MPKBY Women Agents are paid 2% commission for recurring deposit mobilization. Every year, World Thrift Day is celebrated on 30th October.