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Department exceeds savings mobilisation target

By Our Staff Correspondent

BELLARY, MAY 6. The Small Savings Department has exceeded its target in mobilising savings for 2003-04.

Against the target of achieving Rs. 114 crore (gross) and Rs. 38 crore (net), the department collected Rs. 124.66 crore and Rs. 50.11 crore, respectively, recording 131.88 per cent achievement.

During the year, the department achieved 30,826 postal savings accounts against the target of 27,100. Of them, 17,447 were recurring deposit accounts (Rs. 24.65 crore), 6,358 savings accounts (Rs. 19 crore), 1,017 time deposits (Rs. 3.01 crore), and 5,819 monthly income schemes (Rs. 38.70 crore).

It raised Rs. 11.89 crore and Rs. 24.23 crore through the sale of national savings certificates and kisan vikas patras during the year in the district.

The department has exceeded the target from 1994-95 to 2003-04.

During this period, the gross collection touched Rs. 614.07 crore and the net collection Rs. 309.17 crore against the target of Rs. 816.50 crore and Rs. 265 crore.

During 1998-99, the department exceeded the target by achieving 200 per cent.

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