Govt permits banks to sell more small savings schemes like NSCs, MIS
The govt permits banks, as well as prime three non-public lenders, to simply accept deposits below tiny savings schemes like NSCs, MIS. Until now, these tiny savings schemes were sold-out through post offices In order to encourage savings, the govt has allowed banks, as well as prime 3 non-public sector lenders, to simply accept deposits below numerous tiny savings schemes like National Savings Certificate (NSC), revenant Deposits and Monthly financial gain theme (MIS). Until now, most of the little savings schemes were sold-out through post offices. According to a recent government notification, banks may also sell National Savings CD theme 1981, National Savings (Monthly financial gain Account) theme 1987, National Savings revenant Deposit theme 1981 and National Security Council VIII issue. As per the notification, all public sector banks and prime 3 within the non-public sector — ICICI Bank, HDFC Bank and Axis Bank — to receive subscription from the swollen portfo...