World Thrift Day

Educate investors about unsecured investments, says Basit

ITANAGAR, Oct 30: World Thrift Day was celebrated in various places of the state on Wednesday, a day before the actual day of celebration, 31 October.
In Naharlagun, Director of Small Savings, Md A Basit called upon small saving agents to educate investors to refrain from chit fund and unsecured investments “which ultimately result in loss of return on investment including capital.”
Addressing a gathering in the state level World Thrift Day celebration here at the conference hall of the Directorate of Audit and Pension on Wednesday, Basit stressed upon the need for savings by each household, not only in terms of money, but food, water, electricity etc as well.
Appreciating the public and the saving agents for their contribution in small savings, he informed that a sum of Rs 658.27 crore and Rs 108,93 crore as gross and net collection, respectively have been generated in the financial year 2018-19. Rs 123.38 crore has been received by the state government as loan from the central government, he further informed.
Deputy Director of Small Savings PK Saikia, Assistant Director of Small Savings M Modi, the Transport director and superintendent of Postal Services Arunachal Division, also spoke on the importance of the saving.
Earlier, three best agents from ‘SAS’ and ‘MPKBY’ of Arunachal Pradesh were honuored with certificates and mementos.
The day was also jointly celebrated by the office of the Small Savings and Department of Post, Lower Subansiri district on Wednesday.
Addressing a gathering of public, MPKBY/SAS agents, treasury and postal staff on the occasion, Treasury Officer-cum-District Savings Officer Pisa Kachi highlighted the importance of
the habit of thriftiness, especially among local population of the state and its mobilization.
He also explained about the importance of savings and the role of small savings fund in the development of the country as a whole.
Representing the Department of Post, Ziro, Post Master Taku Taker spoke about the problems being faced by the department in carrying out transaction process of the accounts in the post office. He informed that after the introduction of the core banking system, the working condition of the post offices has worsened due to lack of manpower and poor net connectivity.
He advised the Mahila Pradhan Kshetriya Bachat Yojana Agents (MPKBY) and Standardized Agency System (SAS)agents to be honest while dealing with customers and stay updated on the rate of interest and other information on the saving schemes as being fixed by the Ministry of Economic Affairs.
Small Savings Department, Ziro FPO Api Paming asked the general public to join the savings programme by starting to save for a secure future. He also asked the unemployed youths to become MPKBY/SAS agents and work for self-sustenance as well as for savings mobilization.
The day was also celebrated at Tezu in Lohit district by the Department of Small Savings with organizing of a public awareness programme which was attended by villagers and extension agents.
Department of Small Savings Field Publicity Officer Jotho Yun informed that World Thrift Day has been celebrated since 1924 with an objective to develop and encourage the habit of thrift among the general mass and to campaign for investment in small savings schemes.
He elaborated on the salient features of various small savings products in detail and advised the villagers to avail services offered by the post office as these schemes are structured in such a way that they cater to the need of different sections of society especially, for small investors.