AGARTALA, Nov 4 (TIWN): Finance Minister Bhanu Lal Saha inaugurated the prize distribution ceremony for 2012-13 for Tripura small savings lucky draw and Tripura small savings incentive schemes under the Finance (small Savings) department on Wednesday at Sukanta Academy.

Addressing the program, Minister Bhanu Lal Saha said that after the state government has taken action against irregular activities of Non-Banking Financial companies and unincorporated bodies and ordered them to pay the matured/ pre-matured amount of the depositors within 31st July, 2013. But most of the companies either have closed or winded up their offices cheating the investors.

As a result people are eager to deposit their hard earned money in the government secured savings schemes like postal savings schemes, public sector banks, Tripura gramin bank and state cooperative bank, added Saha.

He also said that approximately, 2876 Mahila Pradhan Kshetriya Bachat Yojana Agents and standardized agency system agents are working under postal savings schemes in the state and getting commission at the rate of 4 percent, depending on the schemes.

However, with the rise of the chit fund companies many had 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.