District Small savings Office, Kalahandi

District Small savings Office, Kalahandi Manual I (1) Aims and Objectives of the Organization : Prior to independence National Savings, which is one of the most common means of savings by the people of the country was also serving as a resources mobilization for collecting money for War purpose by the British Govt. has undergone a radical change and became the biggest Bank serving common people,. To cater the simple need of savings by the villagers and urban areas the initial deposit has been kept as low as Rs. 50 and subsequent deposit is as low as Rs.5.00 so that any men and women both literate and illiterate can avail the banking facility at the village level. As such the main objectives of the small Savings organization are:   To make aware of the people regarding the benefit of thrift. Assess common peoples need for savings. Mop up savings for Nation building. Instead of browning from foreign fund, it is collected from the Citizen. It is not a profit earning organization it is a welfare organization serving common people having a social objective i.e. to strengthen the economic condition of the people. (2) Mission & Vision : The small savings organization makes attempt to make the savings movement as a mass movement through various means, to increase domestic savings, which ultimately strengthen the country’s economy and teach the people the importance of savings. The instrument floated by the National Savings which cater the need of people of different economic status. The details of the schemes are furnished below : (3) Brief History and background for its establishment : In order to promote household savings, Govt. of India has established National Savings through Post Offices. The Post Office savings Bank is now the biggest bank serving the smallest man in the country and truly called the peoples Bank. It has a network of about 1,52,000 branches doing savings bank throughout India out of which 1,30,000 are in rural sector serving the simple needs of rural population. It has along history dating back to 1882. In the beginning the objective of POSB was to encourage the habit of thrift among common man but the concept undergone a radical change during last three decades. From the restricted objective of providing a facility to public to deposit their small savings, it has became a medium of mobilizing large resources running into hundreds of crores every year for plan project. 38% of the total collection on small savings in the country are drawn from the rural population. It has penetrated the farthest and isolated villages in India. Post Office savings bank is now a major instrument available to the Govt. for mopping up savings both in the urban and rural areas. Agency Function : The Post Office savings bank in an agency function performed by the Department of Post on behalf of Ministry of Finance, Govt. of India. The Ministry of Finance are paying remuneration for the work to the Deptt. of Post for every savings bank and certificate transaction at the rate fixed from time to time. Role of National Savings Organisation : The rules of National Savings are formed by the Ministry of Finance(DEA) in consultation with National Savings Commissioner &Deptt. of Posts. Promotion of business in the Post Office is mainly concern of National Savings Organisation. This organization is solely responsible for publicity of the various schemes and works for the promotion of the ideal of thrift as a way of life among the people. [ The National savings organization is headed by National Savings commissioner with Hqs. at Nagpur. The National Savings central Advisory Board, a non-official body exist at the apex to assist and advise the Govt. on measures to spread the National Savings movement. The National Savings organization work in close coordination with the State Govt. deptts, Deptt. of Post and other organizations. These includes various measures such as development of Agency system, strengthening cadre of agents, utilizing central and state Govt. organization for promotion and publicity organizations and enlisting cooperation of non-officials and voluntary organization and individuals. Role of State Govt. : The National savings Collections invested in National Savings Schemes became available resources for development to the central and state Govt. 80% of the net collection in a year in the state is available as loan to the state Govt. The State Govt., therefore take keen interest and work joingly with the National Savings Organisation for promotion of savings in the state. Orissa Govt. in the Deptt. of finance has set up its own small savings organizations with Small savings Directorate at state Hqs. And offices at Dist and Sub-Division level. Role of Deptt. of Post : The Deptt. of Posts runs the savings bank as an agent of the Ministry of Finance. Most of the National Savings Schemes are operated and serviced by the network of Post Offices spread throughout the Country. Happily, the Post Office savings Bank organization has been playing an increasing effective role for promotion of the movement in the rural areas through extra departmental branch post masters of the village post office who are granted incentive commission for increasing collection in their post offices. Role of Nationalized Bank : Many Nationalized banks are also operating schemes of National Savings like public provident fund and senior citizen savings schemes on incentive basis and large No. of depositors are covered both by the post office and banks in these schemes. (4) ORGANISATION CHART Ministry of Finance(Govt. of India) National Savings Commissioner National Savings Department of Posts Regional Institute National Savings Kolkata ,GOI, Directorate of Small Savings Finance Department (Govt. of Orissa) Director, Small Savings. Dist. Small Savings Officer (In each Dist. At Collectorate) Small Savings Officer (In each Sub-Collector’s Office) (5 & 6) Allocation of Business & duties to be performed to achieve the Mission: The much needed resource for implementing various plan schemes are funded through collection of savings and the Directorate of Small Savings strive to increase the fold of savings through various means. More than Rs. 1,000 Crores are granted as long term loan by the centre to orissa every year as share of State Govt. which is collected from every district. The target of each district is fixed by the Govt. the small savings organization at district level tries to achieve the same through investment from individuals, through a network of agencies, pay roll savings, sahchayika and investment of institutions fund and mopping up from land compensation etc. The year wise target and achievement of Kalahandi are shown below(for the last 20 years) : Year (1) 1985-86 86-87 87-88 88-89 89-90 90-91 91-92 92-93 93-94 94-95 95-96 96-97 97-98 98-99 99-2000 2000-01 01-02 02-03 03-04 04-05 05-06 Target fixed(In Lakhs) (2) 180 120 180 180 400 450 450 450 400 400 500 600 600 600 600 700 700 600 1100 1700 1900 Achievement(In Rs.) (3) 44,50,000 90,89,000 91,08,000 1,11,20,000 4,39,43,000 1,00,71,000 1,68,69,000 2,61,25,000 3,24,45,000 4,84,12,000 6,14,37,000 4,25,30,000 5,18,25,000 5,63,20,000 6,04,79,000 6,62,34,000 5,80,34,000 7,98,08,000 15,23,11,000 13,83,35,000 Percentage (4) 24.72 74.74 50.60 61.77 109.85 22.38 37.48 58.05 81.11 121.03 123 70.88 86.37 93.86 101 94.7 83 133 138 81.37 SMALL SAVINGS SCHEME AT A GLANCE Sl. No 1. Name of the Rate of Scheme Interest Post Officer Savings 3.5 % Bank Account Per Annum Maturity Period Minimum Deposit Minimum Rs.50.00 Maximum Limit Individual – Rs. 1Lakhs Jointly – Rs.2 Lakhs Rs.10/- or Multiple Rs. 5/Other Facilities. Cheque facility available Interest exempt from Income Tax. Insurance benefit covered up to Rs.50/denomination. Premature encashment available after 3 years. 2. Recurring Account Deposit Rs.10/account fetches Rs.728.90 on maturity 5 years account can be continued for another term. 3. 4. Term Deposit 1 Year account 2 Year account 3 Year account 4 Year account 5 Year account Public Provident fund account 6.25 % 6.50% 7.25 % 7.50 % Rs.50/Maximum- no limit Interest payable annually. But calculated quarterly. 5. 6. 7. 8. 8 % per annum compounded quarterly. Post Office Monthly 8 % per income Scheme annum Interest payable monthly Kisan Vikah Patra Money double in 8 years 7 month National Savings 8 % per Certificates VIII annum issue interest compounded half yearly Senior Citizen 9 % per Savings Scheme annum payable quarterly 15 years 6th years Minimum Rs.500/Maximum Rs.70,000/In a financial year Minimum Rs.1,000/Maximum limitIndividual Rs.3 Lakhs Jointly Rs.6 Lakhs Rs.100/Maximum- no Limit Interest exempted from Income Tax. Withdrawal is permissible from 7th Financial Year. After Completion of 6 years 10 % Bonus also payable on maturity value. Pre mature facility payable after completion of 2 and half years. Income rebate available under section 80 L & 88 Premature facility available after completion of 3 years. Account can be opened in SBI or selected Nationalized Bank or Post Office. 8 years 7 months 6 years Rs.100 Maximum- no Limit 5 years Rs.1,000/- or Multiple thereof . Maximum- 15 Lakhs.  Nomination and transferred facilities are available in all schemes. N.B:- Small Savings incentive draws are held twine in year . Once in the month of August and another in the month of February. Those who invest a minimum sum of Rs.1000.00 in K.V.P N.S.C VIII issue, POMIS, PORD, PPF ,SCSS are entail tailed to get free insensitive cup an from the office of the Collector & BDO Concerned in each draw 3056 Prizes are awarded worth 53 Lakhs. For details please contact District Small Savings Officer, in the collect orate/ Small Savings Officer in Sub- Collector Office and SEO in Block Office. (7) Details of Service rendered :     Select prospective agents/appoint the agents/training to agents/solving agents problems. Coordinate with the postal authority for redressal of grievance of common investors, through Divisional postal coordination committee/Dak Adalat. Guiding investors for rightful investment/publicizing various schemes. Implementing small savings incentive schemes run by state Govt. through issuing free incentive coupons to investors of R.D.,K.V.P.,N.S.C.,M.I.S., P.P.F. & SC SS Schemes. Promoting Pay Roll Savings.  (8) Citizen Interaction : Any citizen can avail the assistance of the organization for knowing details of various schemes. Any postal problems and getting free incentive coupons on their investment. They can also avail assistance from the authorized agents. (9) Postal Address of Main Offices attached/Sub-Ordinate Office field unit : DISTRICT SMALL SAVINGS OFFICER SANCHAYA BHAWAN, COLLECTORATE. (In front of Collector’s Res. Office) Phone : 230772. Small Savings Officer, Dharamgarh. Sub-Collector’s Office, Dharamgarh. (10 ) (11 & 12) As above:Working Hours for the office and Public/Public Interaction : The working hour for office and public are 10A.M. to 5P.M. No separate hour has been fixed for public and any public is free to contact, take assistance from the organization any time during office hour. 13. Grievance Redress Mechanism : Divisional Postal Coordination Committee : This is a forum consisting of postal department and small savings organization which are held quarterly headed by Supdt. Of Post Offices where the peoples grievances are putforth. DAK Adalat : This adalat sits quarterly where any investor can lodge complain problems pertaining to all his problems. The complain can be lodge freely with simple letter super scribing “Dak Adalat” before the Supdt. Of Post Office, Bhawanipatna. Post Master General, Berhampur/CPMG, Bhubaneswar who act as an appellate authority. MANUAL – 2 Power & duties Officers and Employee Section 4(i) (b) (II) Sl. No. Designation of Post Administrative Powers Duties attached Statutory Others Financial 1 Dist. Small Savings Officer Full Full ( Delegated by Collector) Nil Nil Overall functioning of Office administration All the function of the office. 2. One Jr. Clerk 3. One Peon To maintain all records files correspondenc e Assist the Govt, work MANUAL – 3 Producer followed in decision making process Section 4 (1) (b) (III) Nil Assist the Govt, work The office maintains all records and correspondence letters are dairies through ,log books ,File registers and all correspondence are attended expeditiously. MANNUL-4 Norms set for discharge of functions Section 4 (1) (b) (IV) Not administered MANNUL-5 Rules, Regulations , Instructions, Manuals & Records for discharging functions Section 4 (1) (b) (V) List of regulations, instruction, Manuals & Records Sl.No Name of the Act, Rule Regulation etc. P.O.S.B Act.1873 Savings Certificate Act. 1959 R.D Rule 1981 P.O.T.D Rule 1981 M.I.S Rule 1987 N.S.C VIII Issue 1989 K.V.P Rules 1988 S.C.S.S Rules 2004 P.P.F Scheme 1968 Brief gist of contains Rules containing Savings Bank. Rule Containing all Certificates Rules on R.D Rules on T.D Rules on M.I.S Rule on NSC VIII Rules on K.V.P Rules on SCSS Rules on PPF Reference if any Priced incase of priced publication 1. 2. 3. 4. 5. 6. 7. 8. 9. MANNUL-6 Statement of categories of documents that are held by it for under its control Section 4 (1) (b) (VI) A Statement of categories of documents held SlNo Nature of Records Details of information available Details of appointment of Agents Details of appointment of Agents Details of the Annual collection under small Savings Unit/ Section where available Office Retention period where available Permanent 1. SAS Register 2. M.P.K.B.Y Register Office Permanent 3. Target & Achievement Office Permanent MANNUL-7 & 8 Not administered MANNUL-9 Directories of Officers & Employees SlNo. 1. 2. 3. Name & Designation P.L.Mishra, DSSO, Kld. Prafulla Ch. Das, Sr. Clerk Sri Harihar Rana, Peon Officer Phone No. 06670-230772 06670-230772 06670-230772 Email Address MANNUL-10 The monthly remuneration received by each of the officers and employees including the system compensation as provided in the regulations. Section 4 (1) (b) (X) SlNo. 1 2. 3. Name and Designation P.L.Mishra, DSSO, Kalahandi Prafulla Ch. Das, Sr. Clerk ( Deputed from MADA) Pay scale / Monthly remuneration. Rs.6,500.00 –10,500.00 p.m =Rs.14,295.00 Rs.4000.00 – 6000.00 p.m. = Rs.7718.00 ( Deputed from Settlement ) Harihar Rana, Peon Rs.2550.00-3050.00 p.m. = 4194.00 MANNUL-11 to 15 & 17 Not administered MANNUL-16 List of Asst. Public Information Officers Sl.No Designation of the Officer designated as Assistant PIO Postal Address Telephone No. e-mail address 1 District Small Savings Officer At/Po Bh.patna Kalahandi 06670-230772