Post Office

PROJECT REPORT ONCOMPARITIVE STUDY BETWEEN DIFFERENT POST OFFICE SAVING SCHEMES IN INDIA BBA (H)

SUBMITTED BY SUPERVISED BYPRAKHAR D ANITA NANDI MITTAL BARMANBBA (H) PROF. BBA (H) 1072116

ACKNOWLEDGEMENT

I am thankful for the assistance received from various individuals in making this project successful. I find no words to express my gratitude towards those who are constantly involved with me throughout my project in My special thanks to Mr. Soumen Chatterjee (HOD, DOMS) who has given us the opportunity to work on such interesting project and had enabled us to know and learn a lot and gain remarkable experience.I would like to give my special thanks and regards to Mrs. Anita Nandi Barman who has helped me to carry out this project as my project in charge under her guidance and blessing I was able to fulfill the requirements of my university. Prakhar D MittalBBA (H)1072116

_______________ ______________Mentors signature Students signature

CONTENTSSr.No.PARTICULERS

Page No.

1Introduction4-7

2Literature Review

8-11

3Need of Study

12

4Scope of Study

13

5Objective of Study

14

6Research Methodology15-18

7Analysis

19-28

8Findings

29-42

9Bibliography

43

INTRODUCTION

Indian Postal Service-

Department of Posts

TypeAgency of the Government of India

Founded1764

HeadquartersNew Delhi, India

Key peopleRadhika Doraiswamy, Director General

IndustryPostal system

Employees520,191 (As of 2007[update])

Websitehttp://www.indiapost.gov.in/

The Department of Posts (Hindi: ) functioning under the brand name India Post (Hindi: ) , is a government operated postal system in India; it is generally referred to within India as "the post office".

Postal Services in IndiaIndia possesses the largest postal network in the world with 155,000 post offices spread all over the country as on March 31, 2001, of which 89 per cent are in the rural sector. Post offices in India play a vital role in the rural areas. They connect these rural areas with the rest of the country and also provide banking facilities in the absence of banks in the rural areas. They come under the Department of Posts which is a part of the Ministry of Communications and Information Technology under the Government of India. The apex body of the department is the Postal Service Board. The board consists of a chairman and six members. The six Members of the Board hold portfolios of Personnel, Operations, Technology, Postal Life Insurance, Human Resource Development (HRD) and Planning functions. The Joint Secretary and Financial Advisor to the Board is also a permanent invitee to the Board. India has been divided into 22 postal circles, each circle headed by a Chief Postmaster General. Each Circle is further divided into regions comprising field units, called Divisions, headed by a Postmaster General. Other functional units like Circle Stamp Depots, Postal Stores Depots and Mail Motor Service may exist in the Circles and Regions. Besides the 22 circles, there is a special Circle called the Base Circle to cater to the postal services of the Armed Forces of India. The Base Circle is headed by an Additional Director General, Army Postal Service holding the rank of a Major General. The modern postal service in India is more than 150 years old. In 1854, the Post Office in the Province of Sindh, (then in British India), made postal history, when India became the first country to issue postage stamps. In October 1854, all the post offices of Indian sub continent came under centralized control. In the same year Railway Mail Service was established and India had a network of 701 post offices across the continent. In 1911, India achieved another "first" when a biplane from Allahabad to Naini flew with 6500 pieces of mail. The flight was the first official Air Mail in the world. After independence, the Indian government broadened the vision of the postal system to reach the entire population of the country. Today Indian postal system has a reach that ranges from arid deserts of Rajasthan and Kutch to the icy heights of Laddakh. India has the highest post office in the world in Sikkim at a height of 15,500feet (postal code - 172114). Indian postal service provide many facilities like - general or registered mail, parcel post, speed post, express post, e post and special courier service known as EMS-speed post. They also offer a number of post office savings schemes like National Savings Certificate, Kisan Vikas Patra, Recurring Deposits and Term Deposits.Post Office has long served as the backbone of communication and small deposits. For more than 150 years the department of Posts has played a pivotal role in facilitating communication throughout the nation thereby aiding in socio-economic development of the country.

Post Offices offer varied services. Their work is not just restricted to delivering mails. They accept deposits, provide retail services like sale of forms, bill collection etc, provide savings schemes, life insurance cover etc.

With a network of more than 1.5 lakh post offices across the country, India Post offers various Post Office Saving Schemes. These are risk free investment options that are safe and secured and provide you with capital gains without Tax Deduction at Source (No TDS).

Various investment opportunities are available for an individual to his savings and he can choose the appropriate investment schemes, which suit his needs. There are different types of opportunities provided by many financial institutions like commercial banks, co-operative banks, post office savings banks, life insurance corporation public limited company. Of all the above mentioned institutions, Post Office Savings Bank play vital role. It provides numerous benefits to the investors. Post office saving bank is the largest savings institutions in the country. With a view to mobilizing savings of people with relatively small income and circulating in them a spirit of thrift and savings, the Central Government has endeavored to make the National Savings Movement popular by offering high returns than those given by scheduled banks. There are a number of attractive schemes, well designed to meet the individual requirements of different investors. Tax saving features of those schemes attracts the higher income groups more than small savers.The investment avenues provided by the post offices are generally marketable as they are saving media. The major instruments of post office schemes enjoy tax benefits such as exemption of investment contribution or interest income from tax or both up to certain limits.These savings schemes come at attractive rates with nomination facility and are transferable to any Post Office across India. Let us have a quick glance at various post office savings schemes. The Government of India had framed various saving schemes with the objective to providefully secured and attractive investment opportunity to the public. Its another mainpurpose is to mobilize huge resource to the government exchequer for the development ofthe country. These post office schemes are attractive to the public as they offer good taxbenefit and higher returns. These schemes were framed under the Government SavingsBank Act, 1873, Government Savings Certificates Act, 1959 and Public Provident FundAct, 1968.The main financial services offered by the Department of Posts are the Post Office Savings Bank. It is the largest and oldest banking service institution in the country. The Department of Posts operates the Post Office Savings Scheme function on behalf of the Ministry of Finance, Government of India. Under this scheme, more than 20.50 crores savings account are operated. These accounts are operated through more than 1, 54,000 post offices across the country

Types of Post Office Saving SchemesPost Office Monthly Income Scheme- Post Office Monthly Income Account is meant for those investors who want to invest a lump sum and earn interest on monthly basis for their living.Public Provident Fund -Public Provident Fund, popularly known as PPF, is a savings cum tax saving instrument. It also serves as a retirement planning tool for many of those who do not have any structured pension plan covering them.National Savings Certificate -National Savings Certificate, popularly known as NSC, is a time-tested tax saving instrument that combines adequate returns with high safe.Post Office Saving Account -Post office saving account is similar to a savings account in a bank. It is a safe instrument to park those funds, which you might need to liquidate fully or partially at very short notice.Post office time deposit -Post office time deposit account is just like the bank fixed deposit account. These time deposits are meant for those investors who want to deposit a lump sum for a fixed period.Senior Citizens Savings Scheme -Offers fixed investment option for senior citizens for a period of five years, which can be extended, at a higher rate of interest that are paid in quarterly installments.Recurring deposit account -Recurring deposit account is a systematic way of saving money. The scheme is meant for those investors who want to deposit a fixed amount regularly or periodical basis.

Review of literature

The views expressed by various authors have been reviewed in a broad sense so as to confine itself for reference.

Dr.R.Ganapathi (2010) studied that various Small Saving Schemes were mainly meant to help the small investors and also those who are in high tax brackets. The study concluded that proper advertisements must be made for Post Office Savings Schemes, so that even a layman could know about these Schemes and deposits can be increased. They stated that investing their amount in Post Office deposits provides safety and security for the amount invested.Preeti Singh (2002) stated thatPost officeschemes are generally like the Commercial Bank schemes. They have a saving account, a Recurring Deposit account, Time Deposit account which is also recurring in nature. The savings account operates in the same way as commercial Banks through cheques and there is no restriction on withdrawals.Karthikeyan (2001) has conducted research on Small Investors' Perception on Post Office Saving Schemes and found that there was significant difference among the four age groups, in the level of awareness for Kisan Vikas Patra (KVP), National Savings Schemes (NSS), and Deposit Scheme for Retired Employees (DSRE), and the overall score confirmed that the level of awareness among investors in the old age group was higher than in those of the young age group. No difference was observed between male and female investors except for the NSS and KVP. Out of the factors analyzed, necessity of life and tax benefits was the two major ones that influence the investors both in semi-urban and urban areas. Majority (73.3 per cent) of investors of both semi-urban and urban areas were very much willing to invest in small savings schemes in future provided they have more for savings.

Gavini and Athma (1999) found that social considerations, tax benefits, and provision for old age were the reasons cited for saving in urban areas, whereas to provide for old age was the main reason in rural areas. Among the post office schemes, Indira Vikas Patra (IVP), KVP and Post Office Recurring Deposit Account (PORD) were the most popular, in both urban and rural areas.

Jayaraman (1987) has stated that instead of issuing special bonds for unearthing black money the Government of India can encourage investment of black money in various small savings schemes. He further stressed the need to draft the assistance of voluntary agencies at the school and college level for further mobilization of savings.

Arangasami (1992) has observed that more and more dependence on mobilization of resources through small savings will ensure and promote self-reliance. He concluded that the Central government should give proper assistance and encouragement to the small savings agencies, which will be useful not only in mobilization of funds but also for the economic development.

The study by Mukhi (1989) has revealed that NSC has been one of the most popular tax savings instruments in this country. He has stated those contractors and others who have to provide security while bidding for contracts finds it extremely convenient to buy NSC and pledge these to the appropriate authorities while earning 12 per cent per annum on the pledged securities. He also stated that the major attraction of NSC is its simplicity. Even the average investor does not have to scratch his head to understand the scheme.

Tamilkodi (1983) has stated that small savings schemes have a psychological appeal and it provides an opportunity for ordinary men, women, and even children to park their savings. It reaches a large number of people and covers a wide range of areas. She also suggested that efforts should be taken to simplify the procedure of small savings schemes to suit the needs of illiterate and socially downtrodden people. Further, she suggested an increase in the rate of interest of small savings schemes to meet the challenges of commercial banks.Somasundaram (1998) has found that bank deposits and chit funds were the best known modes of savings among investors and the least known modes were Unit Trust of India (UTI) schemes and plantation schemes. Attitudes of investors were highly positive and showed their intention to save for better future. Nearly two-thirds of the investors were satisfied with their savings. Both income and expenses of a family influenced the level of satisfaction over savings. A large proportion of investors were concerned about their children's well-being. Among the dissatisfied investors, majority were of the opinion that cost of living was too high. The most common mode of investment was bank deposits. However, a shift was noticed from bank deposits to other forms of investment. Almost all the investors had invested in gold and silver. Among several parameters in investing, safety of money was considered to be the most important element. Next, the investors expected regular return from their investments.Richa (2004) in her study argued that the Post office continues to be a major attraction for savers. Finance Ministry officials say that the attraction for the Post office deposit schemes stems from the higher interest rate they offer vis--vis what banks give. Scher (2001) observed that in many countries Postal Savings and Giro remittances have long enabled provision of financial services to all segments of the population. Questionnaires were sent to the Ministers and Postal administrations of approximately 80 countries in July 1999. The review of experiences of Asian developing countries suggests many ways by which developing countries can help themselves to mobilize domestic savings and provide domestic financial services through postal savings and remittances and thereby provide financial services to those most likely to be excluded. Amling Ferderic stated that investment is the employment of funds with aim of achieving additional income of growth in value. The essential quality of investment is that it involves waiting for a reward. There are a number of investment possibilities that prospective investors can think of.Monograph stated that the different types of small saving include the national saving certificate, the post office saving bank deposits and the post office cash certificate. Individuals saving in the since they are a liquid as other deposits form of Post Office saving bank deposits should be treated on a par with other bank deposits

Investors Voice opines that post office investors belong to a separate class. It has been recognized that the post office savings schemes is the oldest in the country; are the safety investment avenues and hence attract those classes of investors like senior citizens house wives ,institutions trust etc. The post office savings schemes are relatively inflexible but those who do don`t care much of risk reward equation have traditionally been plumbing for the post office saving with the sole criterion of the security of investment.National Council of Applied Economic Research (NCAER) (1961) 'Urban Saving Survey' noticed that irrespective of occupation followed and educational level and age attained, households in each group thought saving for the future was desirable. It was found that desire to make provision for emergencies were a very important motive for saving and importance was given next to 'saving for old age'. Among motives for saving, provision for emergencies, old age, and purchase of house occur with same frequencies in all occupational and educational groups. The proportion of households expressing a preference for financial assets increases with the level of education. The preference for financial assets, especially bank accounts and small savings, while rising markedly with education, does not seem to increase with income, except at the lowest end of income distribution. Thus, it would appear that efforts must be taken to popularize financial forms of savings particularly among the less educated members of upper-income group. Profitability seems to be the most important motive for determining saving preference. Safety is another significant consideration for most people and liquidity ranked third.

Securities and Exchange Board of India (SEBI) and NCAER (2000) 'Survey of Indian Investors' has reported that safety and liquidity were the primary considerations which determined the choice of an asset. Ranked by an ascending order of risk perception fixed deposit accounts in bank were considered very safe, followed by gold, units of UTI-US64, fixed deposits of non-government companies, mutual funds, equity shares, and debentures. Households' preference for instruments in which they commonly invested matched the risk perception. Bank deposits, which had an appeal across all income classes and tax-saving schemes, were preferred by middle-income and higher-income groups. There was a correlation between the income levels and investments of households in market-related securities.

Need for the Study

The Indian economy is growing significantly and has various investment options but the Government of India has provided the oldest investment option. Still, the Postal saving scheme had not gained much importance. The changing postal environment presents an enormous challenge for traditional postalbusinesses, but it also creates a vast array of new business options andopportunities. The study will be undertaken to analyze whether the Postal savings schemes have gained importance among the people or not. Against this backdrop, an attempt will be made to find out the investment pattern of the respondents of a rural area.

To know the customer perception in the post office saving scheme, it contains different type of customers satisfaction level, their expectations and interest. What kind of problems customers facing in post office. To know the customers age, annual income, gender, and scheme type, this is the need to this study.The small saving schemes in India are framed by the Central Government under the Government Savings Bank Act, 1873 and Government Savings Certificates Act 1959 and the Public Provident Fund Act 1968. The two other schemes intended to strengthen the domestic savings are Deposit Scheme for Retiring Government Employees (1989) and Deposit Scheme for Retiring Employees of Public Sector Companies (1991). Apart from these schemes, there are also the contractual saving schemes, namely General Provident Fund (GPF), Employees Provident Fund (EPF), and Employees Pension System. All these schemes carry interest rates administered by the Central Government.At present, the small saving schemes in operation include Post Office Savings Account, Post Office Recurring Deposits, Post Office Time Deposits, National Savings Certificate, KisanVikas Patra, Public Provident Fund, and Deposit Schemes for Retiring Government Employees and Employees of Public Sector Undertakings. The maturity period of the small saving schemes, currently in operation, varies from a very short period (saving deposits) to over fifteen years (PPF). Certain schemes such as Post Office Savings Account, Post Office Recurring Deposits, Post Office Monthly Income Scheme, and Post Office Time Deposits are similar to commercial bank deposit schemes. Schemes like National Savings Certificates and Kisan Vikas Patra have maturity of 6 to 7 years. For Public Provident Funds, the minimum initial maturity is 15 years while for National Savings Schemes it is 4 years. Interest rates on the small saving scheme are fixed by the Central Government from time to time. These were last revised on March 1, 2001. An attractive feature of small saving schemes is favorable tax treatment. While contributions to certain schemes carry tax concessions, returns on almost all schemes have some tax-exemptions. Scope of StudyThe study aims to create awareness among the investors about various post office deposits schemes. It helps working people to invest in various post office deposits schemes and the National Savings Organization (NSO) and the Post Offices to know the problems faced by investors in while investing in post office deposits schemes. On basis of the study, the Government can make suitable changes to promote the various post office savings schemes according to the respective needs of the investors.Hypothesis of the Study

Based on the above objectives, the following hypothesis will be postulated: 1. There is no significant association between sources of the awareness of Postal Investments and Rural savings.2. There is no significant association between Schemes of the awareness of postal investments and Rural Savings.3. There is no significant association between different types deposits of Postal Investments and Rural savings.4. There is no significant association between personal factors and source of awareness of postal savings schemes.5. There is no significant association between personal factors and media of advertisement about Postal Investment and Rural savings.6. The demographic factors of the respondents have no significant influence over their sources of awareness of various Post Office Deposits Schemes. 7. The demographic factors of the respondents have no significant influence over their opinion towards various Post Office Deposits Schemes. 8. The demographic factors of the respondents have no significant influence over the problem faced while investing in Post Office Deposits Scheme

OBJECTIVES OF THE STUDYThe overall objectives of the study are to analyze the investors attitude towards POST OFFICE DEPOSITS SCHEMES. The specific objectives are - To understand the perception of investors in the post office saving schemes To study about investors expectation from the post office schemes To find out the level of awareness of various schemes of Post office among the public. To find out the purpose of investments in various schemes of post office. To study the problem faced by depositors in depositing in Post Office Deposits Schemes. To study the investors opinion regarding tax benefits and returns from Post Office Deposits Schemes. To find out the sources of awareness by which public get aware about various schemes. To study the relationship between the demographic factor and sources of awareness, opinion and problem faced regarding Post Office Deposits Schemes. To know about the following schemes- Post Office Savings Account 5-YearPost Office Recurring Deposit Account Post Office Time Deposit Account Post Office Monthly Income Account 15-year Public Provident Fund Account Kisan Vikas Patra National Savings Certificate (VIII issue) Senior Citizens Savings Scheme

Research Methodology

Small savings schemes are designed to provide safe & attractive investment options to the public and at the same time to mobilize resources for development.The main financial services offered by the Department of Posts are thePost OfficeSavings Bank. It is the largest and oldest banking service institution in the country. The Department of Posts operates thePost OfficeSavingsSchemefunction on behalf of theMinistry of Finance, Government of India. Under thisscheme, more than 20.50 corers savings account are operated. These accounts are operated through more than 1, 54,000post officesacross the country.ThePost officesprovide a number of savingsschemeslike the Savings AccountSchemes, Recurring DepositSchemes, Time DepositSchemes, Public Provident FundSchemes,MonthlyIncomeSchemes, National Savings Certificates, Kisan Vikas Patras, and Senior Citizens SavingsScheme. A brief of the variousschemesis as follows:SchemesInterest RatesTenureInvestment Denominations and limitsSalient Features

Post Office Savings Account3.5% p.a. On individual and joint accountNo specific or fix tenureMin: Rs. 50 Max: Rs. 1 lakh for individual and 2 lakhs forjoint accountCheque facility available

5-YearPost Office Recurring Deposit Account7.5% compounded quarterly5 years. Can be renewed for another 5 yearsMin: Rs. 10 per month or multiples of Rs. 5 Max: No limitOne withdrawal up to 50% of the balance is allowed after one year. Full maturity value allowed on R.D. 6 & 12 months advance deposits earn rebate.

Post Office Time Deposit Account

6.25%

1 year

Min: Rs. 200 and its multiple thereof Max: No limit

Long-term accounts could be closed after 1 year for discounted interest. Accounts could be closed after 6 months but before a year for no interest. Interest is calculated quarterly but payable yearly.

6.50%2 years

7.25%3 years

7.50%5 years

Post OfficeMonthlyIncome Account8% p.a.6 yearsMin: Rs. 1500 per month or multiples of it.Max: Rs. 4.5 lakhs for individual account and Rs. 9 lakhs forjoint accountAccount if closed after 1 year but before 3 years will suffer a deduction of 2% of the deposit. Account if closed after 3 years will suffer a deduction of 1% of the deposit. On maturity, bonus of 5% on principal amount is admissible

15-year Public Provident Fund Account8% p.a. compounded yearly15 years tenureMin: Rs. 500 in 1 year Max: Rs. 70000 in 1 year Deposits can be made in lump-sum or 12 installmentsWithdrawal can be made every year after the 7th financial year. From the 3rd financial year, loan can be availed against PPF. Noattachmentunder court decree order.

Kisan Vikas Patra8.4% compounded yearly. Money doubles in 8 years and 7 months---No limits. Investment denominations available are of Rs. 100, Rs. 500, Rs. 1000, Rs. 5000, Rs. 10,000, in allPost Officesand Rs. 50,000 in all HeadPost Offices.A single holder certificate can be purchased by an adult. A certificate can also be purchased jointly by two adults.

National Savings Certificate (VIII issue)8% p.a. compounded half-yearly but payable after maturity6 yearsMin: Rs. 100. Also available in denominations of Rs. 100/-, 500/-, 1000/-, 5000 & Rs. 10,000/-. Max: no limitA single holder certificate can be purchased by an adult.

Senior Citizens SavingsScheme9% p.a.5 yearsOnly 1 deposit allowed in multiple of Rs. 1000. Max is Rs. 15 lakhsAge should be above 60 years or 55 years above if retired under superannuation. Account if closed after 1 year will suffer a deduction of 1.5% interest and after 2 years will suffer a deduction of 1% interest. TDS is made on interest if it exceeds Rs. 10000 p.a.

ANALYSISPost Office Recurring Deposit Account (RDA)A Post-Office Recurring Deposit Account (RDA) is a banking service offered by Department of post, Government of India at all post office counters in the country. Theschemeis meant for investors who want to deposit a fixed amount every month, in order to get a lump sum after five years. Thescheme, a systematic way for long term savings, is one ofthe best investmentoption for the low income groups.Features: The minimum investment in a post-office RDA is Rs 10 and then in multiples of Rs. 5/- for a period of 5 years. There is no prescribed upper limit on your investment. The deposit shall be paid as monthly installments and each subsequent monthly installment shall be made before the end of thecalendar month and shall be equal to the first deposit. In case of default in payment, a default fee is chargeable for delayed deposit at 0.20 Paisa per month of delay, for Rs.10 Denomination. After more than four defaults, the account shall be treated as discontinued in case the account is not revived within two months from the fifth default. For Advance deposits for 6 months or 12 months, a rebate is allowed at the prescribed rate (For Rs 10 denomination:- Rs.1/- for 6 advance deposits, Rs.4/- for 12 advance deposits. One withdrawal is allowed after one year of opening a post-office RDA on meeting certain conditions. You can withdraw up to half the balance lying to your credit at an interest charged at 15%. The withdrawal or the loan may be repaid in one lump or in equal monthly installments. Premature closure is allowed on completion of three years from the date of opening and in such case, interest is payable as per the rate applicable for the Post Office Savings Bank Account. After maturity of the account, it can be continued for a further period of 5 years with or without further deposits. During this extended period, the account can be closed at any time.

Returns:The post-office recurring deposits offer a fixedrate of interest, currently at 7.5 per cent per annual compounded quarterly.Monthly InvestmentTotal Investment(60months)Money returned on Maturity (after 60 months)

10600728.90

201,2001457.80

503,0003644.50

1006,0007289.00

50030,00036445.00

100060,00072890.00

137582,500100224.00

50003,00,000364450.00

Advantages:

The post office offers a fixedrate of interestunlike banks which constantly change their recurring deposit interest rates depending on their demand supply position. As the post office is a department of the government of India, it is a safe investment. The principal amount in the Recurring Deposit Account is assured. Moreover Interest earned on this account isexempted from taxas per Section 80L of Income Tax Act.Howto StartPost office RDA:A post-office RDA can be opened at any post office in the country by filling up the appropriate forms. The account can be opened by an individual adult as a single person account, two adults in a joint mode, or by a guardian on behalf of the minor who has attained the age of10 yearsin his own name. A pass book is issued at the time of opening the account. If there is a loss, theft or the passbook is mutilated, aduplicateis issued on a charge. The deposit can be made personally at the particular post office every month or can be made through an appointed agent, who would collect the money from you and enter the same in your passbook.Post Office Time Deposit SchemePost Office Time DepositSchemeis aschemeoffered by the department of Post, Government of India. This is a type offixed depositand is offered at all post offices. As thisschemeis handled directly by the Government of India through Post Office network, it can be considered a very safe and secure method of investment. The amount grows at a predetermined rate at no risk.Thisschemeis best for those people who want to invest their lump-sum money for a fixed period of time. At the maturity of the deposit, the depositor gets the total amount, (principal + interest). Therate of intereston investment is high in thisschemeranging from 6.25% to 7.50%, depending on the term of the deposit. The interest is calculated on quarterly basis but is payable annually.The variousrates ofinterest received in a Post Office Time Deposit are:Period of DepositRate of interest per annum

1 Year6.25%

2 years6.50%

3 years7.25%

5 years7.50%

Opening a Post Office Time Deposit AccountThe account can be opened at any of thepost officesacross India. It can be opened for a period of 1 year, 2 years, 3 years or 5 years. On opening the account, you will receive an account statement with the deposit amount details and duration of the account. Once the account matures, the depositor receives the total amount.The minimum amount required to be deposited in the Post Office Time Deposit is Rs. 200/- and multiples of it. There is no maximum limit. Nomination facility is available under thisscheme. The following persons can open a Post Office Time Deposit Account: A single person can open this account. Two adults can open a joint account. An adult can open an account on behalf of a minor or a person of unsound mind. Authority ofProvident Fund,Superannuation Fundor Gratuity Fund can open group accounts. Fund controlling authority of Sanchayika can open an account. Local authority can open a public account The Treasurer of Charitable Endowments for India, Trust, Regimental Fund & Welfare Fund could open institutional accounts A cooperative society/bank or scheduled bank can open an account on behalf of its members, employees or clients. Gazette officer can open an account in his official capacity.WithdrawalNo withdrawal is permitted for 6 months after the deposit. In case the depositor closes the account after 6 months, but before 1 year, then he will get back the principal amount without any interest. However, in some cases, some interest could be received depending upon the time when it was deposited. In case the duration of deposit is 2, 3 or 5 years and the depositor closes the account after 1 year, then the depositor will get 2% less than theinterest rate applicable to the period for which the deposit was initially made.Tax BenefitsThe interest received on a Post Office Time Deposit is tax-free under section 80L of the Income Tax Act. Also, the amount invested in a 5-year Post Office Time Deposit Account is eligible for deduction under section 80C of the Income Tax Act. The investment in Post Office Time Deposit along with other investments under PublicProvident Fund, LIC, National Savings Certificate, ULIP etc are eligible for deduction up to a maximum of Rs. 1,00,000/- under section 80C. In case of joint account under this deposit, the deduction is allowed to the first holder.

Post Office Monthly Income SchemeThe post-officemonthly income scheme(MIS) provides formonthly paymentof interest income to investors. It is meant for investors who want to invest a sum amount initially and earn interest on a monthly basis for their livelihood. The MIS is not suitable for an increase in your investment. It is meant to provide a source ofregularincome on a long term basis. Theschemeis, therefore, more beneficial for retired persons.Features: Only one deposit is available in an account. Only individuals can open the account; either single or joint.( two or three). Interest rounded off to nearest rupee i.e., 50 paisa and above will be rounded off to next rupee. The minimum investment in a Post-Office MIS is Rs 1,000 for both single and joint accounts. The maximum investment for a single account is Rs 3 lakh and Rs 6 lakh for ajoint account. The duration of MIS is six years.Returns:The post-office MIS gives a return of 8% plus a bonus of 10 per cent on maturity. However, this 10 per cent bonus is not available in case of premature withdrawals. The minimum investment in a Post-Office MIS is Rs 1,000 for both single and joint accounts.Deposit RsMonthly InterestAmount returned on maturity

5,000335,500

10,0006611,000

50,00033355,000

1,00,0006671,10,000

2,00,0001,3332,20,000

3,00,0002,0003,30,000

6,00,0004,0006,60,000

Advantages:

Premature closure of the account is permitted any time after the expiry of a period of one year of opening the account. Deduction of an amount equal to 5 per cent of the deposit is to be made when the account is prematurely closed. Investors can withdraw money before three years, but a discount of 5%. Closing of account after three years will not have any deductions.Monthly interestcan be automatically credited to savings account provided both the accounts standing at the samepost office. The interest income accruing from a post-office MIS is exempt from tax under Section 80L of theIncome Tax Act, 1961. Moreover, no TDS is deductible on the interest income. The balance is exempt from Wealth Tax.How to Open:

You can buy apost officeMIS at any post-office in India. When you open an MIS, you will get a certificate issued by thepost office. In addition, the investor is provided with a passbook to record his transactions against his MIS.Kisan Vikas Patra (KVP)Kisan Vikas Patra (KVP) doublesyour moneyin 7 years and 3 months with the advantage of premature withdrawal. KVP is sold through all HeadPost Officesand other authorizedpost officesthroughout India. The rate of return is 9.75 per cent, compounded annually.KVP accumulates money at a fixed rate, andyour moneydoubles in 7 years and 3 months. But KVP is not meant forregularincome. It is for those looking for a safe avenue of investment without the pressing need for aregularsource of income.Features: The minimum investment in KVP is Rs 100. Certificates are available in denominations of Rs 100, Rs 500, Rs 1,000, Rs 5,000, Rs 10,000 and Rs 50,000. The denomination of Rs 50,000 is sold through headpost officesonly. There is no limit on holding of these certificates. Any number of certificates can be purchased. A KVP is sold at face value; the maturity value is printed on theCertificate. It is a good option ifyou are looking forhassle-free investment as it assures a certain sum of money at the expiry of the duration of your investment. With a fixed rate of return, KVP does not provide safeguards against the perils of high inflation rates. Depending on whether the finance company or the bank from where you are raising the loan accepts it or not. Some banks accept it for raising house loans. Income is assured at the prescribedrate of interest. As mentioned, this is a risk-free investment channel as the KVP comes with the backing of the Government of India. Since the KVP has the backing of the Government of India and is, therefore, extremely safe, it does not require any commercial rating. KVP is not a bearercertificate, and is not easily transferable. Permission of the post master is required for any transfer. These cannot be traded in thesecondary market. KVP cannot be traded in thesecondary marketand, hence, the question of its market value does not arise. KVP is held physically inthe formof certificates that are issued to the investors by thepost office. The option of holding KVP in demat form is not available. Although no TDS is applicable on the interest income from KVP, there are no tax incentives as per the provisions of the Income Tax Act, 1961. Maturity on providing proper identity and by simple discharge of thecertificateon the reverse.Returns:

KVP Scheme doubles money in seven years and three months.What is the liquidity of KVP?

If the premature encashment takes place within a period of one year from the date of purchase of thecertificate, only the face value of thecertificateshall be payable. No interest is payable in this case.After the expiry of one year, but before two years and six months from the date of the issue of thecertificate, the face value of thecertificatetogether with simple interest at the specified rate for the completed months for which thecertificatehas been held, shall be payable.If acertificateis encashed any time after expiry of two-and-a-half years, the amount payable is as specified by the government from time to time.National Saving Certificates (NSC)National Savings Certificate, popularly known as NSC is an assured investmentscheme. It is a time-tested instrument providing double benefits; one is tax savings and the other is adequate returns with high safety. They facilitate long-term safesaving optionsfor the investor. NSCs are a goodinvestment option for salaried class people, businessmen as well as government employees. When you buy a NSC for a particular value, the interest compounded is returned along with the principal amount only after the maturity. It is a cumulativeschemewherein the interest is reinvested. The duration for an NSC is 6 years. Owing to it being time-bound, NSCs have low liquidity.NSCs are available at allpost officesacross the country. They are issued by the Department of Post. Many middle class people in the country buy NSCs for saving tax as well as to earn decent return ontheir investment. Though NSC has much competition from other investment options like shares and mutual funds, yet it is highly popular owing to its respectable returns which are government guaranteed as well as tax-exempt.Interest and ReturnsNSC attractsinterest rateof 8% per annum compounded half-yearly. Because of compounding, the effectiverate of interestcomes to 8.16%. NSCs are under a cumulativeschemeand the entire interest earned every year is reinvested. It is paid along with the principal amount only after the maturity of the certificate. For example, if a person invests Rs. 10,000 in NSC today, he will receive Rs. 16,010 after 6 years.Features of National Savings Certificate Pre-mature encashment is not permissible. Reinvestment of the annual interest earned. Post office savings account interest benefit for 2 years, if amount is not drawn at maturity. Reinvestment of amount after maturity is allowed. Loan can be availed against the security of the certificate. Nomination facility available. Transferable from one Post office to another. Transferable from one person to another. DuplicateCertificate issued in case the certificate is lost, stolen, mutilated or defaced.

Types of NSCs and EligibilityAny adult individual can buy NSC for himself or on behalf of a minor. Two adults can jointly buy the certificate. Even a trust can buy NSCs. There are basically 3 types of certificates that can be bought by individuals:Single Holder Type Certificate: This certificate can be bought by an individual in his name or on behalf of minor, or a trust.Joint 'A' Type Certificate: this certificate is issued to 2 adults jointly and is payable to both holders jointly or to the survivor.Joint 'B' Type Certificate: This certificate is issued to 2 adults jointly payable and is payable to either of the holders or to the survivor.

How and Whereto ApplyNSCs can be purchased at authorizedpost officesand all headpost officesacross the country. A person can apply for an NSC in a prescribed manner at any of thepost offices. NSC can be applied for in person or through an agent. Agents for this purpose are active in every nook and corner of the country. NSCs are available in denominations of Rs. 100, Rs 500, Rs. 1000, Rs. 5000, & Rs. 10,000. Minimum purchase is for Rs. 100 and there is no maximum limit to the purchase of NSCs. A person can invest as much as his budget allows. Payment for NSCs can be made in cash or by a locally executed cheque or order or through a demand draft in favor of postmaster. A duly signed withdrawal form along with passbook to enable withdrawal from savings account of post office could also be used as a payment mode. Also payment can be made by surrendering a matured old certificate discharged as; Received payment through issue of fresh certificate vides application attached.EncashmentThe NSC can be encashed at any registered or authorized post office. The authority needs to be satisfied with the identity of the person presenting the certificate. On receipt of the amount, the receiver signs the back of the certificate as a proof of receipt. The NSCs can also be encashed through banks or by transferring them to the desired post office.If the certificate is purchased on behalf of a minor, and at the time of maturity the minor has attained the age of adult, then that recent adult needs to sign the certificate. The signature needs to be attested by the person who bought the certificate in his behalf or by the postmaster.The maturity period of NSC is 6 years. Generally pre-mature encashment is not allowed but in cases like death of the holder, forfeiture by the nominee or courts order, the NSC can be encashed prematurely.Tax benefitsDeposits in NSCs up to Rs. 1 lakh can be availed as deduction under Section 80C of the Income Tax Act. The annual interest earned is deemed to be reinvested and thus qualifies for the deduction under Section 80C.

Post Office Senior Citizen SchemeA new savingsschemecalled Senior Citizens SavingsScheme has been notified with effect from August 2, 2004. TheSchemeis for the benefit of senior citizens and maturity period of the deposit will be five years, extendable by another three years. Initially theschemewill be available through designated post officesthrough out the country.Features: The minimum investment is 1000Rs and in multiples of Rs.1000 subject to a maximum of Rs.15 lakh. Citizens of 60 years of age and above are eligible to invest. Single orjoint account(with spouse only) can be opened. Citizens who have retired under a voluntary or a special voluntary retirementschemeand have attained the age of 55 years are also eligible, subject to specified conditions. The deposit will carry an interest of 9% per annum (taxable). The maturity period of the deposit will be five years, extendable by another three years. Premature withdrawal after a period of one year will be allowed, subject to some deductions. The investments in theschemewill be non-tradable and non-transferable. However, nomination facility will be available. Non-Resident Indians and Hindu Undivided Families are not eligible to invest in thescheme.Returns: The deposit will carry an interest of 9% per annum (taxable).Advantages:

ThisSchemeis most beneficial to Senior citizens and provides a highrate of interestas compared to bank interest of 4.5- 4.75%. Although the interest on the deposit is taxable, the deposits themselves are tax free. As thepost officeis a department of the government of India, it is a safe investment. The principal amountis assured.Howto StartPost officeSenior Citizens account:

ASenior CitizenAccount can be opened through any designatedpost officethrough out the country.The accountcan be opened by any individual 60 years of age and above either individually or jointly (with spouse only).FINDINGS

Total No. of post office on DATED 13.03.2013Sl. NoName of Postal CircleName of StateTotal No.of PostofficesNo. of Postoffices offeringPOSB facilities

1ANDHRA PRADESHANDHRA PRADESH1597315973

2ASSAMASSAM40134013

3BIHARBIHAR89358933

4CHATTISGARHCHATTISGARH31443143

5DELHIDELHI545542

6GUJARATGUJARAT89798976

7HARYANAHARYANA22612261

8HIMACHAL PRADESHHIMACHAL PRADESH27782778

9JAMMU & KASHMIRJAMMU & KASHMIR16911691

10JHARKHANDJHARKHAND30963096

11KARNATAKAKARNATAKA96799679

12KERALAKERALA50675066

13MADHYA PRADESHMADHYA PRADESH83148314

14MAHARASHTRAMAHARASHTRA1256612552

GOA258258

15NORTHEASTTRIPURA708708

NAGALAND328328

MIZORAM389389

ARUNACHAL PRADESH299299

MEGHALAYA490490

MANIPUR698698

16ORISSAORISSA81638163

17PUNJABPUNJAB40174017

18RAJASTHANRAJASTHAN1032410323

19TAMIL NADUTAMIL NADU1099610996

20UTTAR PRADESHUTTAR PRADESH1772617726

21UTTARAKHANDUTTARAKHAND27192708

22WEST BENGALWEST BENGAL88538853

SIKKIM209209

TOTAL153218153182

India has been divided into 22 postal circles, each circle headed by a chief postmaster general. Each circle is divided into regions, headed by a postmaster general and comprising field units known as divisions (headed by SSPOs and SPOs). These divisions are further divided into subdivisions, headed by ASPs and IPSs. Other functional units (such as circle stamp depots, postal store depots and mail motor service) may exist in the circles and regions. In addition to the 22 circles, there is a base circle to provide postal services to the Armed Forces of India. The base circle is headed by a Director General, Army Postal Service (with a rank of major general).

The highest post office in the world is in Hikkim, Himachal Pradesh, India at a height of 15,500ft (4,700m) (postal code 172114).

Gross Collections under Various Saving Schemes

(Rs.crore)Schemes2009-102010-112011-12

Post Office Savings Account7,96310,34310,597

Post Office Recurring Deposits4,5805,5326,778

Post Office Monthly Income Scheme2,3184,7757,867

Post Office Time Deposits (1 Year)505738872

Post Office Time Deposits (2 Year)96137173

Post Office Time Deposits (3 Year)529454

Post Office Time Deposits (5 Year)519664848

National Savings Scheme 19921018573

National Savings Certificate VIII Issue5,1245,1035,732

Kisan Vikas Patra9,65015,71217,543

Public Provident Fund4,6345,6177,221

Deposit Scheme for Retiring Employees13878108

Relief Bonds (5-year)1,071-6,214

1.Post-Office Saving Account:

The post-office savings account can be opened minimum of Rs. 50 and maximum of Rs. 1, 00,000 by an individual. However, for joint account the upper limit is Rs. 2, 00,000/-, but there is no limit for group, institutional or official capacity account.Withdrawal from the account is by cheques and there is no restriction on withdrawals, unlike in a commercial bank. Accounts having minimum balance of Rs. 200 during April- September and October-March qualify for six monthly prize draws in the next January and July.The interest is tax free and is 1/2 per cent more than that offered on savings bank account by commercial banks.2.Post Office Recurring Deposit:

The scheme covers free life insurance cover after receiving contributions for 24 months on account of denomination of Rs. 5, Rs. 10, Rs. 15 or Rs. 20.In the event of death of the depositor after a minimum period of two years, from the date of opening the account, the heir or nominee will get the full maturity value of the account provided the depositors age was between 8 and 53 years and there have been no withdrawals or defaults during the first two years and the account remains current at the time of death.The benefit of cover is not available for an extended period of deposit beyond five years.Monthly InvestmentTotal Investment (60 Months)Money returned on Maturity (after 60 months)

10501001000150030005000600300060006000090000180000300000746.513,7337,46574,6511,11,9772,23,9533,73,255

The post-office recurring deposits offers a rate of interest, currently at 8.4 per cent per annum compounded quarterly.

3.Post Office Time Deposit:

A Time Deposit is an investment option that pays annual interest rates compounded quarterly, and is available through post-offices across the country. They are suitable for capital appreciation in the sense that money grows at a pre-determined rate.Unlike certain other investment options, where returns are commensurate with the risks, the rate of growth is also high; Time Deposits return a lower, but safer, growth in investment.Therefore, Time Deposits are one of the better ways to get a relatively high interest rate for savings. The only condition is that they are bound for some specific period of time. The investors can borrow against a Time Deposit. The balance in account can be pledged as a security for a loan.Example:-

If a depositor of 5-year TD account opened on 1.6.1983 desire to close the account or withdraw a particular deposit after one year or two years or three years or four years, he will be entitled to the interest at the following rates on basis of rates given in Table F of Rule 7 of POTD Rules, 1981.

After one year = 9 2 = 7%After two years = 9 - 2 = 7 %After three years = 10 -2 = 8 %After four years = 10 1/2 2 = 8 %

Since there is no separate Time Deposit account for four years, the rate of interest admissible for 3-year TD account will apply in case a 5-year TD account is closed after four years.

4.Post Office Monthly Income Scheme:

The post-office monthly income scheme (MIS) provides for monthly payment of interest income to investors. It is meant for investors who want to invest a lump-sum amount initially and earn interest on a monthly basis for their livelihood. The scheme is, therefore, a boon for retired persons.

For example:Ajay invests Rs 4.5 lacs in the post office monthly income scheme. His interest per year is Rs 36,000 @8%; hence he gets Rs 3,000 per month as income. If you do not withdraw the amount for some month, it would not earn any interest and just lie in the account.

This post office saving scheme does not come under sec 80C so there is no tax-exemption for the amount you invest in this, and interest income is taxable, but there is no TDS cut in this scheme. Read7 tax saving tips you can deposit the money in thePOMIS with cash, demand draft or local cheque. Once you open a monthly income scheme account, you will be issued a scheme certificate and a passbook to record the transactions against the post office MIS scheme. The maturity period of this scheme is 6 years. You will also be eligible for a 5% bonus if you retain your scheme for 6 years, so eventually your overall return including this bonus can turn out to be around 8.9%. There is a limit on the amount you can invest in POMIS. Its limited to Rs 4.5 lacs for a single account and 9 lacs for a joint account. You can have any number of accounts, but within the overall upper limit. There is no compulsion to take your money out after maturity, you can leave the money in the account, but then it would earn the interest equal to saving bank account for next 2 years only.5.National Savings Scheme:

In addition to the above post-office deposit scheme, various National Savings Schemes have been introduced from time to time to mobilize public savings for financing the economic development plans.These schemes have been very popular in view of tax benefits enjoyed by them. Unlike commercial bank schemes, these schemes are uniform all over the country.Again, the interest is paid on completed years no payment being admissible for broken periods of a year. Premature encashment is discouraged. Some of the schemes are offered through the State Bank of India /nationalized banks. The national savings certificates sold through S.B.I are designated as Bank Series.Unlike commercial banks schemes, nomination facility is available for all the National Savings Schemes. Accounts can also be transferred from one Post Office to another. Further, many of these savings certificates can be pledged as security, towards loan guarantee.6.Kisan Vikas Patras:

Such instruments are available at post offices and can be obtained in denominations of Rs. 1000, 5000 and Rs. 10,000. The maturity period here is 5/12 years but premature: encashment is possible. The interest payable on Kisan Vikas Patras is compounded annually \ but is taxable.7.Indira Vikas Patras:

These instruments are available at post offices and can be purchased by any person. Minimum investment in Indira Vikas Patras is Rs. 100 and there is no maximum limit.These are available in the maturity denominations of Rs. 200, 500, 1000 and Rs. 5000 an the investor has to pay half the face value. The initial amount is doubled in 5 years and these: patras cannot be encased premature.The interest on Indira Vikas Patras is compounded annually, is payable on maturity only and is taxable. These instruments are like bearer-bonds and hence have to be carefully preserved.8.15 Years Public Provident Fund Account:

Under this scheme, deposits can be made in lump sum or in 12 installments, minimum of Rs. 500/- and maximum of Rs. 70,000 in a financial year. These deposits qualify for income tax rebate under Sec. 88-of I.T. Act. Withdrawal is permissible every year from 7th financial year; loan facility is available from 3rd financial year.

9.Deposit Scheme for Retiring Govt. Employees 1988:

This scheme permits only one account which can be opened by retired central/state Govt. employee in its own name or jointly with the response. The account can be opened within three months from the date of receiving the retirements benefits with a minimum of Rs. 1000/- and in multiple thereof can be withdrawn after the expiry of 3 years from the date of deposit.Only one withdrawal in multiples of Rs. 1000/- can be made in a calendar year. Premature encashment can be made after one year from the date of deposit but before the expiry of 3 years in which case the interest on the amount so withdrawn will be payable from the date of deposit up to the date of withdrawal. The excess interest paid will be adjusted at the time of such withdrawal.10.Deposit Scheme for Retiring Employees of Public Sector Companies, 1991:To provide the benefits to the retiring employees of public sector companies, the deposit scheme for retiring govt. employees-1989 was introduced in 1991 for the public sector companies retiring employees.

There are different kinds of Small Savings Schemes suitable for various segments of the population.

The Government of India have reduced the rate of interest for many of the Small Savings Schemes w.e.f. 01.04.2013 as follows:

S.No.SchemeRate of Interestw.e.f. 01.04.2012Rate of Interestw.e.f. 01.04.2013

1.Savings Deposit4.0 %4.0%

2.1year Time Deposit8.2 %8.2%

3.2year Time Deposit8.3 %8.2%

4.3year Time Deposit8.4 %8.3%

5.5year Time Deposit8.5 %8.4%

6.5year Recurring Deposit8.4 %8.3%

7.5year SCSS9.3 %9.2%

8.5year MIS8.5 %8.4%

9.5year NSC8.6 %8.5%

10.10year NSC8.9 %8.8%

11.PPF8.8 %8.7%

* -NSS -92 Scheme was withdrawn by the G.O.I. w.e.f01.11.200212. NSCIX ISSUE(10yrs)The SCSS introduced w.e.f. 1-7-2004

MONTHLY SAVINGS OPTION:PORD

REGULAR INCOME SCHEMES:POMIS, SCSSTAX BENEFIT SCHEMES: NSC/ PPF

OTHER SCHEMES:POTD /POSA

Some Special Advantages of Small Savings Schemes

Most of the Schemes have facilities for nomination and in case of death of depositor his / her nominee (s) can easily withdraw the deposits with interest.

Certificate / Pass Book can be transferred to any other Post Office

Deposits can be made through Government appointed authorized male / female agent, who accept money / cheque / drafts against proper receipt.

Pay Roll Savings Scheme

Under this scheme, any monthly salaried person can voluntarily authorize his appointing authority or employer to deduct monthly contributions from his salary and to remit into anyone of the savings schemes like Post Office Recurring Deposit, Post Office Time Deposit, National Savings Certificate (VIII issue) and Public Provident Fund Scheme. The group leader appointed in each organization for collection purpose is paid by the PO which can be deducted at commission for his service who implements the scheme in the respective concern.

Small saving instruments form the backbone of the savings mobilized by the Government of India. They represent the safest instruments and therefore most popular among all instruments. The advantages of small saving schemes are that they are government sponsored, have assured returns, are easy to understand for small investors, have tax benefits and have some liquidity.

Some of these schemes are Kisan Vikas Patra, Post Office Monthly Income Scheme,15 Years Public Provident Fund Scheme, Post Office Time Deposit Scheme, 5-Years Post Office Recurring Deposit Scheme, Post Office saving Scheme, National Saving Certificate(VIII Issue), Senior Citizen scheme, National Savings Scheme etc.

The Kisan Vikas Patra is an entirely safe instrument simple and easy to understand and invest. The minimum investment limit is Rs.500/- and no maximum limit. The rate of interest 8.40% compounded annually, otherwise the yearly rate of interest is 8.25%

The post-office monthly income scheme(MIS) provides for monthly payment of interest income to investores.It is meant for investors who want to invest a sum amount initially and earn interest on a monthly basis for their livelihood.

The Public Provident Fund Scheme is a statutory scheme of the Central Government of India.The minimum deposit is Rs.500/- and maximum is Rs.70,000/- in a financial year.One deposit with a minimum amount of Rs.500/- is mandatory in eachg financial year.A Post-Office Time Deposit Account(RDA) is a banking service similar to a Bank Fixed Deposit offered by by Department of post,Government of India at all post office counters in the country.

National Savings Certificate (VIII Issue) have minimum invetment limit as Rs.500/- and no maximum limit. The certificate can be pledged as security against a loan to banks/Government Institutions. The Certificates are encashable at any Post Office in India before maturity by way of transfer to desired post office.

A new savings scheme called Senior Citizens Savings Scheme has been notified with effect from Agust 2,2004. The Scheme is for benefit of senior citizens and maturity period of the deposit will be five years, extendable by another three years. The minimum investment is Rs.1000/- and in multiples of Rs.1000 subject to a maximum of Rs.15 lakh.

Post Office Savings Bank

Savings SchemeNo. of AccountsBalance in Rs.%

Monthly Income Scheme (MIS)74,372,8531,795,033,300,00032%

Kisan Vikas Patra (KVP)70,67,5301,663,301,400,00030%

Recurring Deposit (RD)24,737,525650,733,400,00012%

National Savings Certificate VIII (NSC)20,679,376553,091,700,00010%

Time Deposit (TD)7,809,780262,639,800,0004.3%

Public Provident Fund (PPF)7,809,780234,010,400,0004.3%

Savings Account7,046,881226,894,900,0004.0%

Senior Citizens Savings Scheme (SCSS)5,014,296206,508,700,0003.4%

BIBLIOGRAPHY

BOOKS

1) POST OFFICE SERVICE BOOK VOLUME-III 2) Rural Marketing 3) Security Analysis & Portfolio Mgmt

MAGAZINES

1) DALAL STREET2) BUSINESS STANDARD3) BUSINESS TODAY

THROUGH INTERNET

1) www.indiapost.gov.in/posb.aspx2) www.thehindubusinessline.com/...post-office-savings-scheme 3) www.aarthashastra.com

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