State achieves gross collection of Rs. 8,789 crore during 2009-10 up to October 2009

NSI to train officials of post-offices, banks and small savings departments of the States

HYDERABAD: The expected collections of National Savings of Andhra Pradesh by March 2010 will be Rs.16,000 crore, the highest achieved during the last years. The State achieved a gross collection of Rs. 8,789 crore (87 per cent) during 2009-10 up to October 2009 as against the target of Rs.10,000 crore.

This was stated by Anil Bhattacharya, director and head, National Savings Institute (NSI) of the Union Finance Ministry, in interaction with officials during his three-day visit which concluded on December 4.

An official release stated that the high achievement of savings collections could be possible due to the vast network of distribution channels of post-offices and banks utilised by the institute. He mentioned that the NSI had an ambitious programme of imparting training to officials of post-offices, banks and Small Savings departments of the States, since they are the basic link between the national savings products and investors. Mr. Bhattacharya discussed with NSI Regional Director, Bangalore, B. Raju Babu, with jurisdiction of Andhra Pradesh, the possibility of linking Small Savings with the Self-Help Groups. Earlier, he had a series of meetings with G. Sudhir, Principle Secretary (Finance), K. V. Sunder Rajan, Chief Postmaster-General, Hyderabad, and the National Small Savings of Andhra Pradesh. He congratulated NSI officers for achieving Rs.1 lakh crore small savings.