Dear Comrades,
Srinagar, April 03 (Scoop News) - Chief Postmaster General, J&K. John
Samuel, that Department of Posts Samuel today announced that there has
been 21 percent growth in Post Office Savings Bank business as compared
to the last financial year indications that Post Office is on its path
of recovery. He thanked the people of Jammu and Kashmir
for their overwhelming support to the postal services. Department has
also set a target of 25 percent growth during the current financial
year.
John was speaking at a Press Conference in Srinagar today.He said that Department of Posts with network of 1,55,000 Post Offices is the largest retail Bank in India.
Considering its trust and network, the people are investing in various
schemes of Posts Offices. He was speaking at a Press Conference today.
It was informed that from the current financial year, interest from
Post Office Savings Bank Account upto Rs. l0000 has been exempted from
Income Tax. This is a major benefit to the Post Office customers. Taking
into this account, the Post Office Savings Bank Schemes have become
attractive to the common man. With computerization, the payment of
interest to the customers has been made very easy. John
Samuel informed that the interest for 2011-12 has already been credited
to the Accounts of all the customers by April 01, 2012. This makes the
Post Office savings account very convenient to the people.
Referring to the Senior Citizen Savings Scheme as the most attractive scheme offered by the Post Office, Samuel
informed that it gives an interest rate of 9.3 percent per annum. Under
this scheme, Senior Citizen can invest upto Rs.15 lakh for a period of 5
years and the interest under this scheme is also eligible for tax
concession under Section 80-C of Income Tax Act. Samuel
said that people of 60 years and above are eligible to open the account
under Senior Citizen Scheme. Maturity period is five years. Premature
closure is allowed after one year. A depositor may operate more than one
account in individual capacity or jointly with spouse. Account can be
transferred from one post office to another. Any number of accounts can
be opened in any post office subject to maximum investment limit of Rs.
15 lakhs.
Regarding the Public Provident Fund Scheme which offers interest of 8.8
percent, deposits qualify for deduction from income under Section 80-C
of Income Tax Act. The main attraction is that the interest is
completely tax-free. Withdrawal is permissible every year. The
Department has also various attractive schemes like Time Deposit,
Recurring Deposit, Amount Fixed Deposit and Savings Bank Account to
cater to the needs of various customers besides Department of Posts has
also introduced 10 year National Savings scheme during this year. It
offers 8.9 percent interest and the interest is exempt under Section
80-C of Income Tax Act.
Referring the cheque book facility at Post Office, John
Samuel said that the Department is providing cheque books to all the
customers who are having deposit of Rs. 500 and above. Customers
desiring the cheque book facility may approach the Post Office to them.
With the provision of cheque books, customers can operate Post Office
Savings Account like any bank account. The Department has been taking
steps to computerize all the Post Offices during this year.
http://www.groundreport.com/Media_and_Tech/Postal-services-in-JK-State-awesome-Samuel/2945227
