Latest News

November 28, 2013

WB CM`s brainchild Small Savings Scheme becomes a huge success

WB CM`s brainchild Small Savings Scheme becomes a huge success

After state-wide campaigns by the Trinamool Congress asking common people to stay away from Chit Funds, the investments in Government Small Saving Schemes have reached a record figure of Rs 900 crores during the first half of the current financial year. In 2010-11 and 2011-12, the deficits were to the tune of Rs 987 crore and Rs 165 crore respectively. Chief Minister Ms. Mamata Banerjee had repeatedly requested the common people of the state to invest in government schemes rather than private companies, so that they are never duped.

In a first-of-its-kind initiative to safeguard the savings of its people, the West Bengal state government had launched a state-operated small-savings scheme for its denizens on October 5. While announcing the scheme, Chief Minister Mamata Banerjee told that return on savings comes with guarantee from the government.

The State Government had always stood beside the duped investors who lost money in Chit Fund Scams and had taken up responsibility to compensate. A special fund of Rs 500 crore for compensation of duped investors was also created on the Chief Minister`s initiative.

The campaign by Maa, Mati, Manush Government, to stay away from Chit Funds, has brought confidence amongst common people to put their life savings in safe hands of the government.