Restructure of National Savings Institute, notified

F. No. 12/01/2016-Buget Admn.— Consequent upon most State Governments opting out of National Small Savings Fund (NSSF) investments and resultant shifting of small savings operations to the Central Government, it has been decided by the Government of India to restructure National Savings Institute, an attached office functioning under the administrative control of Ministry of Finance, Department of Economic Affairs, along the following lines:

1. National Savings Institute (NSI) will henceforth have it’s headquarter at Delhi and four Regional Centres stationed each at Guwahati, Kolkata, Chennai and Mumbai. The jurisdiction of Headquarter and Regional Offices of NSI will be as under;

Sr. No.

 Name of Regional Center

Area of Jurisdiction

 

1

Delhi

Delhi, Rajasthan, Gujarat, Uttar Pradesh, Uttaranchal, Punjab, Haryana, Himachal Pradesh, J&K and UT of Chandigarh.

 

2

Guwahati

Assam, Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, Tripura and Sikkim

3

Kolkata

Bihar, Jharkhand,West Bengal, Orissa and UT of A&N Islands

 

4

Chennai

 

Tamil Nadu, Kerala, Andhra Pradesh, Telangana, Karnataka and UTs of Puducherry and Lakshadweep.

 

5

Mumbai

 

Maharashtra, MP, Chhattisgarh, Goa and UTs of Daman & Diu, Dadra Nagar Haveli

 

2. The mandate of restructured NSI will be as under:

(i) To function as front office and public/customer relations unit of Department of Economic Affairs, Ministry of Finance and assist the Ministry in mobilization and management of Small Savings Schemes of Govt. of India.

(ii) To collection, collate, manage and maintain data with regard to Small Saving Schemes for MIS and to generate studies.

(iii) To provide policy inputs and assist Ministry of Finance in affairs of Small Savings as may be required from time to time.

(iv) To function as inspection wing of Department of Economic Affairs for conducting inspections of Post Offices/Banks to check implementation of small savings rules and compliance under AML/CFT norms.

(v) To keep liaison and coordination with operating agencies i.e. Department of Post, Banks and other institutions for smooth and investor oriented operations of small savings schemes.

(vi) To attend to public/investors queries and grievances and attending court cases relating to small saving schemes and their operations on behalf of Ministry of Finance.

(vii) To undertake national level publicity of National Savings Schemes.

(viii) To train of officials of operating agencies and authorized agents on small saving products, rules, procedures and marketing.

(ix) To manage of authorized agents on e-platform.

(x) To print and supply, monitor utilization, payment of printing charges for AAR books, ASLAAS-5 cards and savings bank cheque books.

(xi) To handle international cooperation with WSBI and its member countries, banks and Institutions in the field of promotion, mobilization and management of savings.

3. Resolution issued vide F.No. 2/2/2003-NS.I dated 29.10.2003, stands amended accordingly.

MINISTRY OF FINANCE

  [Resolution dt. 27th October, 2016]

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