Small Saving Department
 
Administration & Agents  Network Objective of Small Savings
Small Savings Schemes At A Glance Post Offices in the District And Agency Network
Targets & Achievement For last 5 Years Agent ship Requirement

 

 Maharashtra State Lottery

 

Administration

Small saving and lottery is one of the most important branch of the Collectorate, having one Assistant Director small savings & lottery as a Drawing and Disbursing officer with 4 field officers and Staff. In addition to Mopping up savings both in the Urban and Rural areas a big network of small saving, Mahila PPF Agents with Pay roll group leaders

 

Mr. S.M.TIPRE
Small Savings Officer
Office Ph. 250092, MO. NO. 9422884518

Agents  Network

Type Of   Agents    

 Number

S A S           

 372     

MPK  By                 

1051    

PPF                           

68

Pay Roll                     

613

Objective of Small Savings

To encourage the habit of thrift among the common man & for the mobilization of their household savings for national development & for the development of the district. The aspiration of the organization is to make the savings movement a “People’s Movement”

Role of Post Office Savings Banks

The Post Office Saving Bank is now a days biggest Bank serving the smallest man in the country & can truly be called the “People’s Bank”. The said bank is an agent of the ministry of finance.
 

Small Savings Schemes At A Glance

           SOLID,      SAFE,       SURE.

Sr. No.

Name of Scheme

Rate of

Effective rate

Interest payable

Maturity Value

Investment limit

Tax

 

 

 Interest (%)

of interest (%)

 

 

 

 Benefits

1

6 Years National Savings

8.16

10.2

compounded 6

Rs. 1000/- Becomes

No

 

 

certificate VIII issue

 

 

monthly & paid

Rs. 1601/-

Limit

E.

 

 

 

 

on Maturity

 

 

 

 

 

 

 

 

 

 

 

2

15 year Public Provident

8

13.44

At the time of

Rs. 500/- deposited

Minimum Rs. 500/-

 

 

Fund account

 

 

Maturity

Monthly before 5th

Maximum

A. B. D.

 

 

 

 

(Compounded Yearly)

becomes at maturity

Rs. 70,000/-

 

 

 

 

 

 

Rs. 1,89,830/-

in a year

 

 

 

 

 

 

 

 

 

3

Post office Saving Bank

3.5

Credited Annually

-

 

Maximum

 

 

 

 

 

 

 

Rs.1,00,000/-

A. C.

 

 

 

 

 

 

Individually,

 

 

 

 

 

 

 

Rs.2,00,000/- Jointly

 

 

 

 

 

 

 

 

 

4

5 year Post Office

7.5

8.45

At ten time of

Rs. 10/- Deposited

No.

 

 

Recurring Deposit Scheme

 

 

Maturity

every months

Maximum

C.

 

 

 

 

 

Becomes Rs.728.90/-

Limit

 

 

 

 

 

 

After 5 Years

 

 

 

 

 

 

 

 

 

 

5

Post Office Time Deposit

 

 

Interest

-

Minimum Rs. 200/-

 

 

Account

 

 

payable

-

And in

 

 

1 Year

6.25

6.39

annually

-

Multiples thereof

C.

 

2 Year

6.5

6.66

but

-

No Maximum

 

 

3 Year

7.25

7.44

calculated

-

Limit

 

 

5 Year

7.5

7.71

Quarterly

-

 

 

 

 

 

 

 

 

 

 

6

Post Office Monthly

8

9.66

Payable

Rs. 80/- is paid

Rs.4,50,000/-

 

 

Income Scheme

 

 

Monthly

Monthly on deposit

Individually

 

 

 

 

 

 

of Rs. 12,000/-.

Rs. 9,00,000/-

 

 

 

 

 

 

In Addition 5%

Jointly

 

 

 

 

 

 

Bonus on Maturity

 

 

 

 

 

 

 

 

 

 

7

Kisan Vikas Patra

8.4

11.65

Paid at

Money doubles in

No

 

 

 

 

 

Maturity

8 Year and

Limit

 

 

 

 

 

 

7 Months

 

 

 

 

 

 

 

 

 

 

8

Senior Citizen Savings

9

-

Paid

-

Minimum Rs. 1000/-

 

 

Scheme 2004

 

 

Quarterly

 

Maximum

 

 

 

 

 

 

 

Rs. 15,00,000/-

 

 

 

Glossary of tax concessions: A,B,C,D,E.
A Interest is tax free from income tax u/s 10 of the Income Tax Act.
B. Total amount of investment is tax-free from Wealth Tax under Wealth Tax Act.
C. Investment (with other specified investments) is free from Wealth Tax.
D. Total Deposits up to Rs. 1,00,000/- along with other specified securities in a year, qualify for Tax Rebate under section 80C of the Income Tax Act.
E. Interest accrued annually in National Savings Certificates (VIII Issue) but deemed to be reinvested will  also qualify for Tax Rebate under section 80C  of the Income Tax Act.

 
Post Offices in the District

To boost up Small Savings Schemes following No. of Post Offices are functioning.

 

·       Head Post Office                           1

·       Sub Post Offices                           36

·       Branch Post Offices                       352
 

                                    Agency Network

Appointing Authorities at District level.

·       Small Savings Agent (SAS)    

     1. Assistant Director Small Savings


·                   Mahila Pradhan Kshetriya Bachat Yojana Agent

                   1 Collector

               2 Assistant Director   Small Savings
·                   Public Provident Fund         

                   1. Assistant Director   Small Savings Division

                                                              Qualification Required For Agent ship

Category     Corporation    Other Area
S. A. S.

 1. 12th Std. OR Equivalent
 2. OR M. P. K. B. Y. Agent  having 5 years experience & Monthly deposit Rs.    20,000/- OR More  

 10th Std. OR Equivalent OR M. P. K. B. Y. Agent having 5 years experience  & Monthly deposit Rs. 10,000/-OR More
M.P.K.B.Y. 12th Std. OR Equivalent 10th Std. OR Equivalent
P. P. F. 12th Std. OR Equivalent  12th Std. OR Equivalent

        Age Required :  Age between 18 to 50.

Documents required for agency

Sr.

Particulars

   S.A.S.

  M.P.K.B.Y.

P.P.F.

 

 No.

 

Corporation

Other

Corporation

Other

For all Areas

1

National Saving 

 

 

 

 

 

 

Certificate in

Rs.

Rs.

Rs.

Rs.

Rs.

 

favour of own

2,000/-

2,000/-

1,000/-

1,000/-

2,000/-

 

name require

 

 

 

 

 

 

to pledge

 

 

 

 

 

2

Two Guarantors

Two Guarantors

Two Guarantors

Two Guarantors

Two Guarantors

Two Guarantors

 

in the form

of worth Rs.

of worth Rs.

of worth Rs.

of worth Rs.

 

 

prescribed

25,000/-

25,000/-

10,000/-

10,000/-

 

3

Educational

Mark Sheet or

Mark Sheet or

Mark Sheet or

Mark Sheet or

Mark Sheet or

 

Qualification

Certificate of

Certificate of

Certificate of

Certificate of

Certificate of

 

 

passing  12th

passing  10th

passing  12th

passing  10th

passing  12th

 

 

Or Equivalent

Or Equivalent

Or Equivalent

Or Equivalent

Or Equivalent

4

Certificate of

 

 

 

 

 

 

Passing of

 

 

 

 

 

 

Qualifying

                                                                                      For all agencies

 

examination

 

 

 

 

 

 

For new agency

 

 

 

 

 

5

Character &

From Gazetted Officer ( Principal / Headmaster of collage or high school)

 

 

Conduct

 in the form prescribed of two person

 

 

 

 

Certificate

                                                                                      For all agencies

6

Residential

                                                                                      For all agencies

 

Address proof

Ration Card / Electric Bill / Telephone Bill / Tax Receipt / election card

 

7

Age Proof

Leaving Certificate of 10th Std. / Birth Certificate - attested copy  For all agency

8

Personal

Affidavit on Rs. 20/- /stamp Paper in the format prescribed before the  Authorized dignitary

 

Undertaking

                                                                                      For all agencies

9

Photo Graph

Past port size 4 color photo for all agencies

 

 

10

Change of

                                                                                      For all agencies

 

Name of

Affidavit on Rs. 20/- /stamp Paper in the format prescribed before the  Authorized dignitary

 

Married women

 OR Marriage registration certificate / GOVT. Gazette Notification copy

 

11

Minimum

 

 

 

 

For Corporation area

 

Collection

10,00,000/-

10,00,000/-

15,000/-

5,000/-

50 new accounts

 

Required

per year

per year

per month

per month

And

 

 

 

 

 

 

For Other Areas

 

 

 

 

 

 

30 new accounts

Note:-

Near Relatives of Central & State GOVT employees are not entitled for agencies.

 

 

If any GOVT Employee desires to have agencies to their near relative they have to submit,  "No Objection Certificate" of Head of Department.

 

Renewal of Agencies

·   Every agency is valid up to 3 years.

·   Minimum target to M P K B Y Agents, is 100 new R. D. accounts and minimum Rs. 15,000/- Collection per month for corporation area & 50 new R. D. accounts and minimum Rs. 10,000/- Collection per month for other area.

·   S A S Agents, must be required to achieve minimum collection fixed for Incentives, which is declared by the government on time to time.

·   P P F Agents, must be required to open 50 new accounts for corporation area & 30 new accounts for other, every year.
 

Security deposit in shape of 6 years national savings certificate for every agent
All agents require to submit proposal for renewal to authorities before 45 days in any case.

Commission to Agent

Particulars

Rates

For  S. A. S. Agent  

1%

For M.P.K.B.Y. Agent 

4%

For P. P. F. Agent 

1%

Pay Roll Group Leader 

2.5%

Targets & Achievement For last 5 Years

( Rs. in Cores )

Sr. No.

Financial

Target

Achievement  of   target

Percentage of  

 

Year

 

Gross

Net

Achievement of target

1

2003-04

107.00

240.97

113.28

105.86

 

2

2004-05

138.49

277.22

152.92

55.16

 

3

2005-06

Nil

307.04

153.25

Nil

 

4

2006-07

Nil

296.60

139.99

Nil

 

5

2007-08

Nil

260.03

60.34

Nil

 

 District Incentives Grants

Grants are the received from the Government on the achievement of yearly small savings target for the development of the district and the said grants being distributed amongst the Zillaparishad, Panchayat samities, 

 Municipal councils on the population basic other than government employees share. On the terms & conditions regarding utilization of grants.

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Structure And Section Of Collectorate