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Mahila
Pradhan Khestriya Bachat Yojna
Mahila
Pradhan Khestriya Bachat Yojna (MPKBY) agency system was introduced by the
Government w.e.f. 01.04.1972 with the objectives:-
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To
educate housewives in family budgeting.
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To
inculcate the habit of thrift among household and self employed people.
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To
canvass for and secure investment in National Savings 5 Years Recurring Deposit
Account from small savers.
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To
raise resources for financing development and defence of the country.
The
agency is confined to canvass for and receive investment in National Savings 5
years Recurring Deposit Account. An individual woman (called Mahila Agent) who
being a resident of locality and sufficiently educated can be appointed agent
under this scheme.
Management
of authorised agency system including appointment, renewal and supervision has
been transferred to the State Government. Individual desirous to be appointed
as an agent under the agency system should approach appointing authority of
their area i.e. Director, Small Savings of the State, District Collector of the
District where the applicant resides. In some of the states BDOs/Tehsildars
have also designated as appointing authority under MPKBY. Authorised agents are
entitled to payment of commission on the deposits secured by them in National
Savings 5 years Recurring Deposit Account at the rate as may be notified by the
Government from time to time. A certificate of Authority showing details of the
agent and validity of Agency is issued by the appointing authority to the
appointed agent under MPKBY.
Authorised
agents appointed under this system are issued ASLAAS-5 cards by the Government.
Investor should insist for and obtain prescribed printed card from the agent
while making deposit in National Savings 5 years Recurring Deposit Account
through an agent. The agent shall make entry in the depositor’s copy of card
for the money received every month to be deposited in National Savings 5 year
Recurring Deposit Account in Post Office. Depositor is advised to check entries
of deposit in his account pass book when returned by the agent after making
deposit.
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