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Small savings account hikes in post office
Small savings account hikes in post office
PHOTO : TIWN File Photo

AGARTALA, July 30 (TIWN): With the shutdown of the chit fund companies in and around the state, the scheme of small saving account in the post offices has hiked in the west district.

Post Office is the most authentic place for small savings as well as long term savings. Indian Post offices has a great small saving banking and financial service. Generally in rural area post office is still a place where people save their money in safe and secure. Now a day’s Indian Post Office is expanding its financial services by short term and long term savings schemes.

However, with the rise of the chit fund companies many has withdrew their accounts in the post office, but with the sudden shut down of the chit fund companies people has again started saving their money in the post office small savings account for security.

However, the hike in the opening of small saving account in the post offices confirms that a large number of people have now come out from the trap of the chit fund clutch and are now saving their money in the post offices.

Sources confirmed that under west Tripura including three sub-division an amount of 33 crore 26 lakh is deposited under the small saving account of post offices.

An amount of Rs 29 crore 31 lakh is deposited only in post office of Agartala, 1 crore 73 lakh at Mohanpur and 2 crore 22 lakh at Jirania.

A total of 1,434 agents have got enrolled with the post office services.

Small savings schemes are designed to provide safe and attractive investment options to the public and at the same time to mobilize resources for development.

These schemes are operated in the post offices throughout the country.

The chit-fund companies have allegedly cheated people to the tune of crores of rupees by collecting money from them by assuring them to pay handsome interest on the amount invested and by enrolling more and more members in the trading firms.

Despite ban on chit-fund companies indulging in money-collection and multi-level marketing schemes in the state, people continue to fall prey to these companies but the rise in the opening of the small savings account it shows that people are becoming much more aware and are realizing the authenticity of post offices. 

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