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Tamil Nadu - Nagercoil Printer Friendly Page   Send this Article to a Friend

Small savings mobilisation exceeds Rs.4500-cr. target

By Our Staff Reporter

NAGERCOIL, FEB. 24. The Government had fixed a target of mobilising Rs.4, 500 crores under small savings in the current year but the department had exceeded the target by mobilising a sum of Rs.4, 617 crores till January, said the Commissioner, Department of Small Savings, T. Murthy.

Speaking to presspersons here on Wednesday, he said that the department had been exceeding the target for the past five years, which indicated that people continue to repose faith in small savings.

The collected money was being distributed to the State and Central Governments as loans to improve infrastructure. There were 40,000 agents for small savings in the State, including 700 in Kanyakumari district.

The agents have mobilised Rs. 3,986 crores as small savings during last year, for which Rs.46 crores had been distributed to them as incentive.

The Government has also announced cash awards to three rural and as many urban schools in the State, which were expected to exceed the target under the Recurring Deposit scheme launched exclusively for the benefit of students with a view to inculcate saving habit among them.

Those who had lost their passbooks when the tsunami struck the coast on December 26 last could approach the Collector to get duplicate passbook, he said.

Earlier, he participated in the 11th district level small savings agents conference held here the same day.

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