CUT IN INTEREST RATE FOR SMALL SAVINGS SCHEMES

NFPE WRITES TO THE HON`BLE MOC

National Federation of Postal Employees

1^st Floor North Avenue Post Office Building, New Delhi-110 001

Phone: 011.23092771                                              e-mail: nfpehq@gmail.com

       Mob: 9868819295/9810853981                    website: http://www.nfpe.blogspot.com

     PF-35(SB)-2016                                                                    Dated: 21^st March, 2016

T0

            Shri Ravi Shankar Prasad

            Hon`ble Minister of Communications & IT,

            Government of India,

            New Delhi-110 001

Sub:   Cut in interest rate for small savings schemes.

Respected Sir,

            As you  are aware that the Government of India, Ministry of Fiancé, Department of Economic Affairs (Budget Division) vide F.No.1/04/2016-NSII dated 18^th March -2016 has  issued orders to cut the interest rates for Small  Savings Schemes which  will adversely affect the  poor people and customers in  Post Offices.

            Already due to CBS related problems thousands and thousands customers have closed their accounts in Post Offices. Further this cut in small savings schemes like, NSC, KVP, PPF,MIS, Sr. Citizen Savings Schemes and Sukanya Samriddhi Yojna will force them to invest their money in some other schemes.

            It is therefore requested to kindly utilize your good office and convince the Finance Ministry to exempt Small Savings Schemes in Post Offices from interest cut to protect interests of common man.

            With regards,

                        Yours faithfully,

(R.N. Parashar)

Secretary General