Financial Analysis of United States Postal Service Financial Results ...
Indian postal services - financial Management 2012
-
Upload
shubham-parsekar -
Category
Education
-
view
332 -
download
0
Transcript of Indian postal services - financial Management 2012
![Page 1: Indian postal services - financial Management 2012](https://reader035.fdocuments.in/reader035/viewer/2022070511/58a2f45c1a28ab5d1c8b5613/html5/thumbnails/1.jpg)
Postal Investment schemes
Financial Management
![Page 2: Indian postal services - financial Management 2012](https://reader035.fdocuments.in/reader035/viewer/2022070511/58a2f45c1a28ab5d1c8b5613/html5/thumbnails/2.jpg)
India Post
Founded on 1 April 1774 by Government of India
• Postal service• Financial service• Retail service
![Page 3: Indian postal services - financial Management 2012](https://reader035.fdocuments.in/reader035/viewer/2022070511/58a2f45c1a28ab5d1c8b5613/html5/thumbnails/3.jpg)
POST OFFICE SCHEMES
Savings Account• Any individual can open an account. • Cheque facility available. • Group Account, Institutional Account, other
Accounts like Security Deposit account & Official Capacity account are not permissible
• Rate of interest 4% per annum
![Page 4: Indian postal services - financial Management 2012](https://reader035.fdocuments.in/reader035/viewer/2022070511/58a2f45c1a28ab5d1c8b5613/html5/thumbnails/4.jpg)
Recurring Deposit Account
• A single adult or two adults jointly• Defaults allowed - 4• Rate of interest 8.40% • Part withdrawal • Maturity- 5 yrs• Minimum Deposit – Rs5 (multiples of 5)• Premature closure- 3 yrs
![Page 5: Indian postal services - financial Management 2012](https://reader035.fdocuments.in/reader035/viewer/2022070511/58a2f45c1a28ab5d1c8b5613/html5/thumbnails/5.jpg)
Monthly Income Scheme (MIS) Account
• Rate of interest 8.50%.• Maturity Period - Five Years.• Auto credit facility to SB Account.• Minimum limit- 1500/-• Maximum limit- 4.5 lakhs / 9 lakhs
![Page 6: Indian postal services - financial Management 2012](https://reader035.fdocuments.in/reader035/viewer/2022070511/58a2f45c1a28ab5d1c8b5613/html5/thumbnails/6.jpg)
Time Deposit Account
• 1 Year, 2 Year, 3 Year and 5 Year Time Deposit can be opened
• Premature closure- after 6 months, SA int. will be paid
• Rate of interest - 8.20%, 8.30%, 8.40%, 8.50% compounded quarterly for 1,2,3 & 5 years TD account respectively
• Minimum Deposit 200/- and in multiples
![Page 7: Indian postal services - financial Management 2012](https://reader035.fdocuments.in/reader035/viewer/2022070511/58a2f45c1a28ab5d1c8b5613/html5/thumbnails/7.jpg)
Public Provident Fund Account
• Individual account on his behalf or on behalf of minor of whom he is the guardian
• Minimum limit - 500/- in a financial year • Maximum limit - INR. 1,00,000/- in a financial year• IT Rebate • Interest of 8.80% p.a.• Loan facility available after 3 yrs with 2% p.a.
interest
![Page 8: Indian postal services - financial Management 2012](https://reader035.fdocuments.in/reader035/viewer/2022070511/58a2f45c1a28ab5d1c8b5613/html5/thumbnails/8.jpg)
National Saving certificate
![Page 9: Indian postal services - financial Management 2012](https://reader035.fdocuments.in/reader035/viewer/2022070511/58a2f45c1a28ab5d1c8b5613/html5/thumbnails/9.jpg)
Meaning(NSC) are certificates issued by Department of post, Government of India and are available at all post office counters in the country .It is a long term safe savings option for the investor. Trust and HUF cannot invest.This scheme is specially designed for Government employees, Businessmen and other salaried classes who are IT assesses.
![Page 10: Indian postal services - financial Management 2012](https://reader035.fdocuments.in/reader035/viewer/2022070511/58a2f45c1a28ab5d1c8b5613/html5/thumbnails/10.jpg)
Features of NSC VIII Issue
• National Savings Certificate is available in denominations of 100, 500, 1000 and 10000. This means that, an investment in NSC India can be done even with Rs. 100/-.
• There is no upper Limit to invest in National Savings Certificate. This means you can invest in NSC India any amount of money as there is no ceiling limit for investment.
• The maturity period of NSC India is 6 years.• The Rate of Interest on NSC India is 8% p.a. cumulated half yearly.• Pre closure is available for National Savings Certificate after the completion
of 3 years.• On payment of nominal fees, National Savings Certificate can be transferred
to any person. Transfer from one branch to another is also possible.
![Page 11: Indian postal services - financial Management 2012](https://reader035.fdocuments.in/reader035/viewer/2022070511/58a2f45c1a28ab5d1c8b5613/html5/thumbnails/11.jpg)
Advantages of NSC
• National Saving Certificates in India are Highly Secured Investment, since it is secured by Govt. of India.
• National Savings Certificate has a guaranteed rate of return of 8% p.a. (cumulated half yearly)
• National Saving Certificates in India are easily available from all post offices, in denominations of Rs. 100/-
• The principal amount which is invested in NSC India is eligible for tax benefit under 80C.
• The interest received at the time of maturity from National Saving Certificates in India will not be subjected to TDS.
• NSC India Deposits will not be considered as assets U/s 2 (ea) of Wealth Tax Act 1957
![Page 12: Indian postal services - financial Management 2012](https://reader035.fdocuments.in/reader035/viewer/2022070511/58a2f45c1a28ab5d1c8b5613/html5/thumbnails/12.jpg)
NSC IX issue (2011)
• New Post office savings scheme of 10 year maturity was introduced in December 2011.
• The government has introduced the new scheme on recommendation of a committee headed by Shyamala Gopinath, then deputy governor of Reserve Bank of India.
• The certificate will be available in the denominations of Rs.100, Rs.500, Rs.1,000, Rs.5,000 and Rs.10,000. There is no upper limit for investment in the scheme.
![Page 13: Indian postal services - financial Management 2012](https://reader035.fdocuments.in/reader035/viewer/2022070511/58a2f45c1a28ab5d1c8b5613/html5/thumbnails/13.jpg)
Types of NSC
3 types of NSC that can be brought by individual.Single Holder Type Certificate: This certificate can be bought
by an individual in his name or on behalf of minor, or a trust.
Joint 'A' Type Certificate: This certificate is issued to 2 adults jointly and is payable to both holders jointly or to the survivor.
Joint 'B' Type Certificate: This certificate is issued to 2 adults jointly and is payable to either of the holders or to the survivor.
![Page 14: Indian postal services - financial Management 2012](https://reader035.fdocuments.in/reader035/viewer/2022070511/58a2f45c1a28ab5d1c8b5613/html5/thumbnails/14.jpg)
Advantages of NSC XI 2011 • Certificate will earn interest at the rate of 8.7 percent per
annum, compounded semi-annually.• Under the new scheme, on investment of Rs.100, the depositor
will get Rs.234.35 after 10 years on maturity of the certificate.• The certificate is easily transferable. It can be transferred from a
post office where it is registered to any other post office and it can be pledged as a security.
• National savings certificate is a popular saving instrument for people who invest to save tax.
![Page 15: Indian postal services - financial Management 2012](https://reader035.fdocuments.in/reader035/viewer/2022070511/58a2f45c1a28ab5d1c8b5613/html5/thumbnails/15.jpg)
Senior Citizen Savings Scheme (SCSS) Account
• Senior Citizen.• Tax rebate• Opened by an individual or jointly with spouse.• Attained age of 60 years or above on the date of
opening of the account.• Attained the age 55 years or more but less than 60
years and has retired under a Voluntary Retirement Scheme or a Special Voluntary Retirement Scheme on the date of opening of the account within three months from the date of retirement.
![Page 16: Indian postal services - financial Management 2012](https://reader035.fdocuments.in/reader035/viewer/2022070511/58a2f45c1a28ab5d1c8b5613/html5/thumbnails/16.jpg)
• No age limit for the retired personnel of Defence services
• Non-resident Indians (NRIs) and Hindu Undivided Family (HUF) are not eligible to open an account.
• Minimum – INR 1000• Maximum – INR 15 lakh• No withdrawal shall be permitted before the
expiry of a period of five years
![Page 17: Indian postal services - financial Management 2012](https://reader035.fdocuments.in/reader035/viewer/2022070511/58a2f45c1a28ab5d1c8b5613/html5/thumbnails/17.jpg)
Premature closure of account is permitted
• 1. After one year but before 2 years on deduction of 1 ½ % of the deposit.
• 2. After 2 years but before date of maturity on deduction of 1% of the deposit.
![Page 18: Indian postal services - financial Management 2012](https://reader035.fdocuments.in/reader035/viewer/2022070511/58a2f45c1a28ab5d1c8b5613/html5/thumbnails/18.jpg)
Premature closure allowed after three years
• In case of death of the depositor before maturity, the account shall be closed and deposit refunded without any deduction along with interest.
• Interest @ 9.30% per annum from the date of deposit on quarterly basis.
![Page 19: Indian postal services - financial Management 2012](https://reader035.fdocuments.in/reader035/viewer/2022070511/58a2f45c1a28ab5d1c8b5613/html5/thumbnails/19.jpg)
Mutual Funds
• On 22nd January 2001, India Post in partnership with IDBI-Principal launched a scheme for distribution of mutual funds through post offices.
![Page 20: Indian postal services - financial Management 2012](https://reader035.fdocuments.in/reader035/viewer/2022070511/58a2f45c1a28ab5d1c8b5613/html5/thumbnails/20.jpg)
Easy steps for investing through the Post Office
• 1. At each designated post office one counter (AMFI qualified personnel) has been earmarked to receive the Mutual Fund applications;
• 2. An investor can approach the designated post office counters or the concerned postmaster for application forms and literature on the types of fund schemes available through the post office;
![Page 21: Indian postal services - financial Management 2012](https://reader035.fdocuments.in/reader035/viewer/2022070511/58a2f45c1a28ab5d1c8b5613/html5/thumbnails/21.jpg)
• 3. Thereafter he can hand the application forms duly filled along with requisite amount in the form of a demand draft/cheque to the counter staff. No cash will be accepted;
• 4. The counters accept the application forms as per the cut off time prescribed by the AMCs for accepting the applications for their schemes in the particular post office.
![Page 22: Indian postal services - financial Management 2012](https://reader035.fdocuments.in/reader035/viewer/2022070511/58a2f45c1a28ab5d1c8b5613/html5/thumbnails/22.jpg)
Postal Life Insurance Started on 1st February 1884
Extended insurance cover for female employees
Upper limit – Rs 40000
Now increased to Rs 10 Lakhs
It covers employees
• Central and state Govt• Central and state public undertakings• Universities• Govt aided education institutions• Nationalized banks• Local bodies• Defense staff
![Page 23: Indian postal services - financial Management 2012](https://reader035.fdocuments.in/reader035/viewer/2022070511/58a2f45c1a28ab5d1c8b5613/html5/thumbnails/23.jpg)
• Min Age at entry is 19 years Max Age at entry is 55 years
• Maturity amount is payable only to the Assignee, nominee or the legal heir after death of the insurant.
• Insurance cover starts from the date of acceptance of proposal to the extent of sum assured with accrued bonus
• Bonus shall accrue till the date of maturity• Higher bonus and lower premier than the Endowment
Policy.• Eligible for loan after payment of premier for 4years.
Whole life Assurance (Suraksha)
![Page 24: Indian postal services - financial Management 2012](https://reader035.fdocuments.in/reader035/viewer/2022070511/58a2f45c1a28ab5d1c8b5613/html5/thumbnails/24.jpg)
• Surrender of policy allowed after payment of premier for 3 years.
• The policy can be converted into an Endowment Assurance Policy after completion of one year and before 57 years of age of the insurant.
![Page 25: Indian postal services - financial Management 2012](https://reader035.fdocuments.in/reader035/viewer/2022070511/58a2f45c1a28ab5d1c8b5613/html5/thumbnails/25.jpg)
Salient Features Sum assured is payable either on survival to the term or on death
occurring within the term.
With Profit and a Without Profit plans are available under this policy.
Bonus for the full term is payable on the date of maturity or in the
event of death, whichever is earlier.
Premiums can be limited to shorter term or can be paid as single
premium.
Premiums cease on death or on expiry of term whichever is earlier.
Endowment Assurance (SANTOSH)
![Page 26: Indian postal services - financial Management 2012](https://reader035.fdocuments.in/reader035/viewer/2022070511/58a2f45c1a28ab5d1c8b5613/html5/thumbnails/26.jpg)
Restrictions Minimum Sum Assured Rs 20000
Maximum sum Assured Rs 10 lakhs
Surrender of policy and Loan available after 3 years.
BenefitsOn Death or Survival
Basic Sum Assured and bonus under the With Profit plan.
Basic Sum Assured only under Without Profit plan.
![Page 27: Indian postal services - financial Management 2012](https://reader035.fdocuments.in/reader035/viewer/2022070511/58a2f45c1a28ab5d1c8b5613/html5/thumbnails/27.jpg)
Convertible whole life Assurance (SUVIDHA)
Salient Features Initially the policy is a Limited Whole Life Payment Plan, i.e., sum
assured is payable only on the death of the life assured.
At the end of five years from the commencement of policy, the
policy holder has an option to convert it into an Endowment
Assurance for a suitable period at an enhanced premium.
Once converted, Sum assured is payable either on survival to the
term or on death happening within the term.
![Page 28: Indian postal services - financial Management 2012](https://reader035.fdocuments.in/reader035/viewer/2022070511/58a2f45c1a28ab5d1c8b5613/html5/thumbnails/28.jpg)
BenefitsOn Death:
If not Converted: Sum Assured is payable to nominees/beneficiaries
on death of life assured only.
If Converted: Sum Assured + Bonus (If it is a with profit plan).
On Survival:
If Converted: Sum Assured + Bonus (If it is a with profit plan).
![Page 29: Indian postal services - financial Management 2012](https://reader035.fdocuments.in/reader035/viewer/2022070511/58a2f45c1a28ab5d1c8b5613/html5/thumbnails/29.jpg)
15 years
• 6 years (20%)
• 9 years (20%)
• 12 years (20%)
• 15 years (40% +
Accrued bonus)
20 years
• 8 years (20%)
• 12 years (20%)
• 16 years (20%)
• 20 years (40 +
accrued bonus)
Anticipate
Endowment
policies
Anticipate Endowment Assurance (SUMANGAL)
![Page 30: Indian postal services - financial Management 2012](https://reader035.fdocuments.in/reader035/viewer/2022070511/58a2f45c1a28ab5d1c8b5613/html5/thumbnails/30.jpg)
JOINT LIFE ASSURRANCE
• It is a joint-life Endowment Assurance in which one of the spouses should be eligible for PLI policies. Life insurance coverage is provided to both the spouses to the extent of sum assured with accrued bonus with only one premium. All other features are same as an Endowment policy. All the above schemes have compulsory medical examination. For the non-medical policy of any category (except AEA and Joint Life Assurance for which Medical Examination is compulsory), the maximum Sum Assured is Rs 1 lac.
![Page 31: Indian postal services - financial Management 2012](https://reader035.fdocuments.in/reader035/viewer/2022070511/58a2f45c1a28ab5d1c8b5613/html5/thumbnails/31.jpg)
LIMITS OF SUM ASSURED IN POSTAL LIFE INSURANCE
• Any person who is eligible to the benefit of Post Office Life Insurance Fund under Rule 6, may effect an insurance-Whole Life Assurance, Endowment Assurance, Convertible Whole Assurance, Anticipated Endowment Assurance and YugalSuraksha Policy or all of them on his life for a sum not less than Rs. 20,000 in each class but not more than an aggregate of Rs. Twenty Lac (Rs. 20,00,000/-) in respect of one class/all classes of insurance policy (s) taken together. The value of policy shall be taken in multiples of Rs. 10,000/- after minimum limit of Rs.20,000/- i.e. Rs. 20,000/-, Rs.30,000/-,Rs.50,000/- and soon.
![Page 32: Indian postal services - financial Management 2012](https://reader035.fdocuments.in/reader035/viewer/2022070511/58a2f45c1a28ab5d1c8b5613/html5/thumbnails/32.jpg)
SCHEME FOR PHYSICALLY HANDICAPPED PERSONS
• The maximum limit of Insurance for Physically Handicapped persons in PLI is the same as others and he/she can take any one of the plans. Medical examination is compulsory under this scheme in order to determine the exact nature and extent of their handicap and its bearing on the life being insured. Depending upon the nature and extent of handicap, normal or a slightly higher premium is charged.
![Page 33: Indian postal services - financial Management 2012](https://reader035.fdocuments.in/reader035/viewer/2022070511/58a2f45c1a28ab5d1c8b5613/html5/thumbnails/33.jpg)
CHILDREN POLICY
• The Department has introduced Children Policy under PLI/RPLI, with effect from 20th Jan 2006. The salient features of this scheme are as under:-
• • The Scheme is envisaged to provide Insurance cover to the children of PLI/RPLI policy holders.
• • Maximum two children in family will be eligible to take children policy.
• • Children between the age of 5 and 20 years are eligible and maximum sum assured is Rs 1 lakh or equivalent to the sum assured of the main policy holder whichever is less.
• • The main policy holder should not have attained the age of 45 years.
![Page 34: Indian postal services - financial Management 2012](https://reader035.fdocuments.in/reader035/viewer/2022070511/58a2f45c1a28ab5d1c8b5613/html5/thumbnails/34.jpg)
CHILDREN POLICY• • No premium is required to be paid on the children policy on the death of
the main policy holder and full sum assured with the accrued bonus shall be paid to the child after the completion of the term of the children policy. On the death of the child/children, full sum assured with the accrued bonus shall be payable to the main policy holder.
• • Main policy holder shall be responsible for payments for the Children Policy. No loan shall be admissible on Children Policy. However, the policy shall have facility for making it paid up provided the premia are paid continuously for 5 years.
• • No Medical examination of the Child is necessary. However, the child should be healthy on the day of proposal and the risk shall start from the date of acceptance of proposal.
• • The policy shall attract bonus at the rate applicable to Endowment Policy. The POIF Rules amended from time to time shall be applicable to Children Policy.pted under Section 44 (d) of LIC Act, 1956.
![Page 35: Indian postal services - financial Management 2012](https://reader035.fdocuments.in/reader035/viewer/2022070511/58a2f45c1a28ab5d1c8b5613/html5/thumbnails/35.jpg)
PLI benefits• Highest return (bonus) with the lowest premium
• Change of nomination.
• The insurant can take loan by pledging his/her policy to Heads of the Circle/Region on behalf of President of India, provided the policy has completed 3 years in case of Endowment Assurance and 4 years in case of Whole Life Assurance. The facility of assignment is also available.
• Assignment of Policy to any Financial Institution for taking loan.
![Page 36: Indian postal services - financial Management 2012](https://reader035.fdocuments.in/reader035/viewer/2022070511/58a2f45c1a28ab5d1c8b5613/html5/thumbnails/36.jpg)
• Revival of his/her lapsed policy. Policy lapses after 6 unpaid premiums if it remained in force for less than 3 years and after 12 unpaid premiums if it remained in force for more than 3 years.
• Issue of Duplicate Policy Bond in case of the original Policy Bond is lost, burnt/torn/mutilation.
• Conversion from Whole Life Assurance to Endowment Assurance and from Endowment Assurance to other Endowment Assurance as per rules.
![Page 37: Indian postal services - financial Management 2012](https://reader035.fdocuments.in/reader035/viewer/2022070511/58a2f45c1a28ab5d1c8b5613/html5/thumbnails/37.jpg)
Postal Life Insurance (PLI)
2001-
2002
2002-
2003
2003-
2004
2004-
2005
2005-
2006
2006-
2007
2007-
2008
2008-
2009
2009-10
0
1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
No. of Policies in forceSum Assured (in Rs. Crore)
![Page 38: Indian postal services - financial Management 2012](https://reader035.fdocuments.in/reader035/viewer/2022070511/58a2f45c1a28ab5d1c8b5613/html5/thumbnails/38.jpg)
Top five performing Circles (2008-09)
APS
Tamil N
adu
Mahara
shtra
Karnata
ka
Gujarat
0
500
1000
1500
2000
2500
Sum Assured(in Rs. Crore)
Sum Assured(in Rs. Crore)
![Page 39: Indian postal services - financial Management 2012](https://reader035.fdocuments.in/reader035/viewer/2022070511/58a2f45c1a28ab5d1c8b5613/html5/thumbnails/39.jpg)
Claims settled (2008-09)
Maturity Death Surrender 0
2000
4000
6000
8000
10000
12000
14000
16000
18000
Amount paid (Rs. In crores) Number
![Page 40: Indian postal services - financial Management 2012](https://reader035.fdocuments.in/reader035/viewer/2022070511/58a2f45c1a28ab5d1c8b5613/html5/thumbnails/40.jpg)
RPLI (Rural Postal life insurance)
![Page 41: Indian postal services - financial Management 2012](https://reader035.fdocuments.in/reader035/viewer/2022070511/58a2f45c1a28ab5d1c8b5613/html5/thumbnails/41.jpg)
Introduction• Rural Postal Life Insurance (RPLI) came into being as a for
Reforms in the Insurance Sector • The Government accepted the recommendations of
Malhotra Committee and allowed Postal Life Insurance to extend its coverage to the rural areas to transact life insurance business with effect from 24.3.1995, mainly because of the vast network of Post Offices in the rural areas and low cost of operations
• The prime objective - insurance cover to the rural public in general and to benefit weaker sections and women workers of rural areas in particular and also to spread insurance awareness among the rural population.
![Page 42: Indian postal services - financial Management 2012](https://reader035.fdocuments.in/reader035/viewer/2022070511/58a2f45c1a28ab5d1c8b5613/html5/thumbnails/42.jpg)
Rpli insurance plans
RPLI offers following types of plans:• 1. Whole Life Assurance ( GRAMA SURAKSHA)• 2. Convertible Whole Life Assurance (GRAMA
SUVIDHA)• 3. Endowment Assurance ( GRAMA SANTOSH)• 4. Anticipated Endowment Assurance (GRAMA
SUMANGAL)• 5. GRAM PRIYA • 6. Scheme for Physically handicapped persons
![Page 43: Indian postal services - financial Management 2012](https://reader035.fdocuments.in/reader035/viewer/2022070511/58a2f45c1a28ab5d1c8b5613/html5/thumbnails/43.jpg)
RPLI benefitsA RPLI policy holder may also get following facilities :-• Change of nomination.• The insurant can take loan by pledging his/her policy to Heads of the
Circle on behalf of President of India, provided the policy has completed 3 years in case of Endowment Assurance and 4 years in case of Whole Life Assurance. The facility of assignment is also available.
• Assignment of Policy to any Financial Institution for taking loan.• Revival of his/her lapsed policy. Policy lapses after 6 unpaid premia if it
remained in force for less than 3 years and after 12 unpaid premia if it remained in force for more than 3 years.
• Issue of Duplicate Policy Bond in case the original Policy Bond is lost, burnt or torn/mutilated.
• Conversion from Whole Life Assurance to Endowment Assurance and from Endowment Assurance to other Endowment Assurance as per rules.
![Page 44: Indian postal services - financial Management 2012](https://reader035.fdocuments.in/reader035/viewer/2022070511/58a2f45c1a28ab5d1c8b5613/html5/thumbnails/44.jpg)
Rural Postal Life Insurance (RPLI) (2008-09)
0
2,000,000
4,000,000
6,000,000
8,000,000
10,000,000
12,000,000
No. of Policies in ForceSum Assured (in Rs. Crore)
![Page 45: Indian postal services - financial Management 2012](https://reader035.fdocuments.in/reader035/viewer/2022070511/58a2f45c1a28ab5d1c8b5613/html5/thumbnails/45.jpg)
Top five performing Circles (2008-09)
Andhra Prad
esh
Mahara
shtra
Uttar Prad
esh
Tamil N
adu
Bihar 0
500
1000
1500
2000
2500
Sum Assured (in Rs. Crore)
Sum Assured (in Rs. Crore)
![Page 46: Indian postal services - financial Management 2012](https://reader035.fdocuments.in/reader035/viewer/2022070511/58a2f45c1a28ab5d1c8b5613/html5/thumbnails/46.jpg)
Claims settled (2008-09)
Maturity Death 0
2000
4000
6000
8000
10000
12000
14000
16000
18000
Amount paid (in Rs. Crore) Number
![Page 47: Indian postal services - financial Management 2012](https://reader035.fdocuments.in/reader035/viewer/2022070511/58a2f45c1a28ab5d1c8b5613/html5/thumbnails/47.jpg)
Who are eligible for obtaining a PLI policy?
• Employees of the following Organizations are eligible.• Central Government• Defence Services• Para Military forces• State Government• Local Bodies• Government-aided Educational Institutions• Reserve Bank of India• Public Sector Undertakings• Financial Institutions• Nationalized Banks• Autonomous Bodies• Extra Departmental Agents in Department of Posts
![Page 48: Indian postal services - financial Management 2012](https://reader035.fdocuments.in/reader035/viewer/2022070511/58a2f45c1a28ab5d1c8b5613/html5/thumbnails/48.jpg)
• Q. Whether salaried proffesionals in private sector can join PLI ?
• Q. Can one continue the policy if one quits the Government service ?
• Q. Age limit.
![Page 49: Indian postal services - financial Management 2012](https://reader035.fdocuments.in/reader035/viewer/2022070511/58a2f45c1a28ab5d1c8b5613/html5/thumbnails/49.jpg)
Kisan Vikas Patra• This scheme is available at all post offices and
brokers/agents of UTI, LIC and government schemes• Minimum Investment ( available in denominations of Rs.
100, Rs. 500, Rs. 1000, Rs. 5000, Rs. 10000 and Rs 50000. No maximum limit.
• Rate of interest 8.40% compounded annually. • Money doubles in 8 years and 7 months. • Two adults, Individuals and minor through guardian can
purchase. • Companies, Trusts, Societies and any other Institution not
eligible to purchase.
![Page 50: Indian postal services - financial Management 2012](https://reader035.fdocuments.in/reader035/viewer/2022070511/58a2f45c1a28ab5d1c8b5613/html5/thumbnails/50.jpg)
• Patras can be pledged as security against a loan to Banks/Govt. Institutions.
• Patras are encashable at any Post office before maturity by way of transfer to desired Post office.
• Patras are transferable to any Post office in India. • Interest income taxable but no TDS • Nomination facility available.
![Page 51: Indian postal services - financial Management 2012](https://reader035.fdocuments.in/reader035/viewer/2022070511/58a2f45c1a28ab5d1c8b5613/html5/thumbnails/51.jpg)
Conclusion
• Indian Post offers several Investment Schemes which are safe, secure and risk-free investment options and relatively more interest rates than bank deposits. Hence are good sources of investment.
![Page 52: Indian postal services - financial Management 2012](https://reader035.fdocuments.in/reader035/viewer/2022070511/58a2f45c1a28ab5d1c8b5613/html5/thumbnails/52.jpg)