Small Saving Schemes In India
Overview of Small Saving Schemes in India
Small saving schemes in India are one of the country's most viable financial options. They are provided by both the Indian Government and non-governmental bodies.
Small savings schemes in India are extremely important to the economy.
Their main aim is to provide financial help to the economically underprivileged section of the Indian population, a group that makes up a huge portion of the country's population.
These schemes aim to generate money to be spent on development.
The providers of small savings schemes want to achieve this by providing the common people with investment options that offer high returns without high risk.
There are various ways in which the small saving schemes of India are run. Many are run through governmental post offices located throughout the country.
Public Provident Fund Schemes
Public Provident Fund Schemes are provided by the Government of India through almost eight thousand branches of public sector banks and post offices.
Deposit Schemes for Retiring Employees
Another type of small saving scheme is the deposit scheme that is meant for workers on the verge of retirement. These are provided by the Government of India. However, the services of such schemes are less widely available.