Implementation of new Interest rates and other changes in PO Savings Schemes published in Newpapers .

Respected Madam / Sir,

Kindly refer to the item published in the leading newspapers regarding revised rate of interest and new features of various small savings schemes which is also uploaded by Ministry of Finance on its website in the shape of Office Memorandum.  Ministry of Finance has requested to issue instructions to all post offices that the new rates of interest and other decisions taken should not be implemented till notifications are issued by the Ministry.

       Therefore, it is requested to issue instructions to all post offices to wait for receipt of notifications issued by Ministry of Finance and circulated by the Department with reference to the implementation of new rates and other features of the small savings schemes. 

Regards
Directorate Programme Office- Project Arrow
O/o Secretary  Posts
Dak Bhawan, New Delhi-110 001
Tel: 2303 6102, 6808, 23096155

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Major changes in Post Office Agents Commission

Decisions on the recommendations of the committee for comprehensive review of national small savings fund  (NSSF) by finance ministry in respect of commission to be paid to post office agents.

Commission to Post Office Agents

Payment of commission on PPF schemes (1%) and Senior Citizens Savings Scheme (0.5%) will be discontinued

Agency commission under all other schemes (except MPKBY agents) will be reduced from existing 1% to 0.5%

Commission at existing rate of 4% will continue for Mahila Pradhan Kshetriya Bachat Yojana (MPKBY) agents.

 Incentives, if any, paid by the State/UT Governments will be reduced from the commission paid by the Central Government

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