Commission for Agents in Small Savings

SMALL SAVINGS DEPARTMENT –COMMISSIONER OF SMALL SAVINGS – AGENT INCENTIVES – DISCONTINUATION - ORDERS - ISSUED. FINANCE (ADMN.IV) DEPARTMENT G.O.Rt.No. 3684 Dated: 24 . 08.2012 Read the following:  Notification No. F1/12/2011-NS-II Dt. 25.11.2011 of Government of India.
In the ref. read above, the Government of India ordered that the authorized
Standardised Agency System (SAS) and Mahila Pradhan Kshetriya Bachat Yojana (MPKBY) agents for canvassing/ securing investments in the small savings schemes as per the terms of agreements executed by them under the Standardized Agency System (SAS) and Mahila Pradhan Kshetriya Bachat Yojana (MPKBY) will be paid commission at the rate indicated below with effect from 01.12.2011.

1. (A) Mahila Pradhan Kshetriya Bachat Yojana (MPKBY)
                  (i) Five year Recurring Deposit Account 4%
    (B) Standardised Agency System (SAS)
                  (i) One year Time Deposit 0.5%
                  (ii) Two Year and Three year time Deposit 0.5%
                 (iii) Five year Time Deposit 0.5%
                 (iv) Monthly Income Account Scheme 0.5%
                 (v) Five/Six year National Savings Certificate (VIII-Issue) 0.5%
                (vi) Ten year National Savings Certificate (IX- Issue) 0.5%

2. Payment of Commission of Public Provident Scheme (1%) and Senior Citizens Savings Scheme (0.5%) has been discontinued. It has also been ordered that incentives, if any paid by State Government shall be reduced from the commission paid by Central Government. Thus any incentive
payment made in this year by State Government will not result in an additional incentive to the agents.

3. Accordingly, Government, after careful examination hereby order that the payment of all incentives to Agents of Small Savings from State Government budget be discontinued with effect from 1-4-2012.

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