Dear Comrade,
The recommendation of Shyamala
Gopinath Committee regarding agents’ commission was to reduce commission of
0.5% on Senior Citizens Saving Scheme (SCSS) and 1% on Public Provident Fund
(PPF) to zero, reduce 4% commission under Mahila Pradhan Kshetriya Bachat
Yojana (MPKBY) to 1% in a phased manner and to reduce 1% commission for all
other schemes under Standardised Agency System (SAS) to 0.5%. The Government,
after consulting all the stakeholders and the representations received, has
decided to reduce the commission under PPF and SCSS to zero and under SAS to
0.5%. However, commission under MPKBY continues to be at 4% for the time being.
The main intention of these recommendations is to make these schemes more
investor centric than agent centric.
Representations of Small Savings Agents’ Association from various states
including Mumbai were received in the past. Taking into account large number of
representations received from Small Savings Agent’s Associations, Members of
Parliament, other dignitaries and others, the Government accepted most of the
recommendations of the Committee.
This was stated by the Minister of State for Finance Shri Namo Narain Meena in
a written reply to a question in the Rajya Sabha today.
Source: - PIB
The main intention of these recommendations is to make these schemes more investor centric than agent centric.
Representations of Small Savings Agents’ Association from various states including Mumbai were received in the past. Taking into account large number of representations received from Small Savings Agent’s Associations, Members of Parliament, other dignitaries and others, the Government accepted most of the recommendations of the Committee.
This was stated by the Minister of State for Finance Shri Namo Narain Meena in a written reply to a question in the Rajya Sabha today.
