Agartala, August 13 (TIWN): The state administration has laid stress on encouraging investors in the Small Savings Scheme (SSS) in the wake of statewide crackdown on Non Banking Financial Institutions (NBFI).

A highly placed source in the Revenue Department today said that most players in the chit fund market had a spiraling effect till 201 when largescale crackdown started in Tripura alongwith other states of the country.

A total of Rs. 327.72 crore was collected by post offices across the state in 2013-2014; depositors withdrew barely Rs. 274 crore on their end. The small savings scheme achieved their target of 37 percent set for the entire financial year by the first three months alone, the source informed.

The quantum of business stood at Rs. 260.94 crore in the previous financial year and Rs. 225.52 crores in 2011-2012.

The source said that prevailing trend in small savings arena was highly encouraging. Most NBFIs have now disappeared and people are gradually turning to post offices and small savings scheme of institutional finance.

The source added that India Post outlets mostly remain busy with their own business and small savings benefits aren’t focused to ensure effective marketing.

He said that the post offices could perform better had it used more manpower and better margin of commission for the agents.