Tax4india ›› Saving Schemes›› Post Office Monthly Income Scheme
Post Office Savings Schemes In India
Trapping rural savings has been a pressing need since time immemorial. The authorites have taken undue advantage of the existence of post office even in remote nooks and corners of the country. They are forced to undertake normal banking activities liken SB, TD, RD, MIS.
The systems and procedures handling these schemes are clumy, laborious and outdated. The leathargy of bureaucraft in taking remedical action results in frittering away of scarce and vluable resourcs. The rate of interest were reduced considerably and contineously from 1.1.99 to 1.3.2003. However these schemes offer bettr return most other avenues.
The silent features of the current schemes are given below:
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