SMALL SAVINGS & STATE LOTTARY

 

 

Administration

Small saving and lottery is one of the most important branch of the collector, having one Assistant Director small savings & lottery as a Drawing and Disbursing officer with 3 field officers and Staff. In addition to Mopping up savings both in the Urban and Rural areas a big network of small saving, Mahila PPF Agents with Pay roll group leaders as detailed below :-

 

1} Mr. Avinash Eknath Jodh

                           Assistant Director Small Savings

                                               Office Ph. 2435096, Resi. Ph. 2440607

 

2} Mr. Shrichand G. Rathod

Small Savings Officer

(Akola, Murtizapur & Balapur Sub Division)

Office Ph. 2435096, Mobile 9422193380

 

3} Mr. Shrikrishna S. Wawage

Small Savings Officer

(Akot Sub Division)

Office Ph. 07258-222674, Mobile 9423259604

4}  Mr. Sunil V. Patil

Small Savings Officer

(Now on deputation to Hon”ble Education Minister)

Mobile 9822944647

 

5} Mr. S. O. Sangai

Deputy Accountant

(To work all financial aspect)

 

6} Smt. Jyoti Nargundi

Junior Clerk

(To watch Ministerial work)

 

7} Mr. Avinash Garaye

Peon

                 

 

Network

Category       No.        Collection In Corers Increase %                                                    2003-04 2004-05       as per

                                                           Previous Year

·       S A S                        334             48.27         84.50                   75.05

·       M P K By                 883             13.82         16.83                   21.78

·       P P F                        53               26.59         30.82                   15.90

·       Pay Roll                   579                316/per       325/per                9/per

Group Leader                                head           head                    head
 
 
 
Object of Small Savings

 

To encourage the habit of thrift among the common man & for the mobilization of their household savings for national development & for the development of the district. The aspiration of the organization is to make the savings movement a “People’s Movement”

 

 
 
 
Role of Post Office Savings Banks

 

The Post Office Saving Bank is now a days biggest Bank serving the smallest man in the country & can truly be called the “People’s Bank”. The said bank is an agent of the ministry of finance.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Small Savings Schemes At A Glance

SOLID,      SAFE,            SURE.

Sr. No.

Name of Scheme

Rate of

Effective rate

Interest payable

Maturity Value

Investment limit

Tax

 

 

 Interest (%)

of interest (%)

 

 

 

 Benefits

1

6 Years National Savings

8.16

10.2

compounded 6

Rs. 1000/- Becomes

No

 

 

certificate VIII issue

 

 

monthly & paid

Rs. 1601/-

Limit

E.

 

 

 

 

on Maturity

 

 

 

 

 

 

 

 

 

 

 

2

15 year Public Provident

8

13.44

At the time of

Rs. 500/- deposited

Minimum Rs. 500/-

 

 

Fund account

 

 

Maturity

Monthly before 5th

Maximum

A. B. D.

 

 

 

 

(Compounded Yearly)

becomes at maturity

Rs. 70,000/-

 

 

 

 

 

 

Rs. 1,89,830/-

in a year

 

 

 

 

 

 

 

 

 

3

Post office Saving Bank

3.5

Credited Annually

-

 

Maximum

 

 

 

 

 

 

 

Rs.1,00,000/-

A. C.

 

 

 

 

 

 

Individually,

 

 

 

 

 

 

 

Rs.2,00,000/- Jointly

 

 

 

 

 

 

 

 

 

4

5 year Post Office

7.5

8.45

At ten time of

Rs. 10/- Deposited

No.

 

 

Recurring Deposit Scheme

 

 

Maturity

every months

Maximum

C.

 

 

 

 

 

Becomes Rs.728.9/-

Limit

 

 

 

 

 

 

After 5 Years

 

 

 

 

 

 

 

 

 

 

5

Post Office Time Deposit

 

 

Interest

-

Minimum Rs. 200/-

 

 

Account

 

 

payable

-

And in

 

 

1 Year

6.25

6.39

annually

-

Multiples thereof

C.

 

2 Year

6.5

6.66

but

-

No Maximum

 

 

3 Year

7.25

7.44

calculated

-

Limit

 

 

5 Year

7.5

7.71

Quarterly

-

 

 

 

 

 

 

 

 

 

 

6

Post Office Monthly

8

9.66

Payable

Rs. 80/- is paid

Rs.3,00,000/-

 

 

Income Scheme

 

 

Monthly

Monthly on deposit

Individually

 

 

 

 

 

 

of Rs. 12,000/-.

Rs. 6,00,000/-

 

 

 

 

 

 

In Addition 10%

Jointly

 

 

 

 

 

 

Bonus on Maturity

 

 

 

 

 

 

 

 

 

 

7

Kisan Vikas Patra

8.4

11.65

Paid at

Money doubles in

No

 

 

 

 

 

Maturity

8 Year and

Limit

 

 

 

 

 

 

7 Months

 

 

 

 

 

 

 

 

 

 

8

Senior Citizen Savings

9

-

Paid

-

Minimum Rs. 1000/-

 

 

Scheme 2004

 

 

Quarterly

 

Maximum

 

 

 

 

 

 

 

Rs. 15,00,000/-

 

 

 

 

 

 

 

 

 

Glossary of tax concessions :- A, B, C, D, F.

 

 

 

 

 

A. Interest is tax free from income tax u/s 10 of the Income Tax Act.

 

 

 

 

B. Total amount of investment is tax-free from Wealth Tax under Wealth Tax Act.

 

 

 

C. Investment (with other specified investments) is free from Wealth Tax.

 

 

 

D. Total Deposits up to Rs. 1,00,000/- along with other specified securities in a year, qualify for Tax Rebate under section 80C of the Income Tax Act.

E. Interest accrued annually in National Savings Certificates (VIII Issue) but deemed to be reinvested will  also qualify for Tax Rebate under section 80C  of the Income Tax Act.

 

 

 

Post Offices in the District

 

To boost up Small Savings Schemes following No. of Post Offices are functioning.

 

·       Head Post Office                   1

·       Sub Post Offices                     33

·       Branch Post Offices             192

 

 

Agency Network :-

 

Appointing Authorities at District level.

 

District

 

·       Small Savings Agent        1 Collector

2 Assistant

 Director

 Small Savings

·       Mahila Pradhan Kshetriya

Bachat Yojana Agent 1 Collector

2 Assistant Director              

Small Savings

 

 

Division

·       Public Provident Fund     1 Deputy Director

Agent                                                  Small Saving

 

 

 

 

Qualification Required

 

Category       Corporation       Other

 

S. A. S.        1. 12th Std. OR Equivalent     10th Std. OR Equivalent

                                    2. OR M. P. K. B. Y. Agent            OR M. P. K. B. Y. Agent

                                  having 5 years experience             having 5 years experience

                                  & Monthly deposit Rs.             & Monthly deposit Rs.

                                         20,000/- OR More                        10,000/-OR More

 

M.P.K.B.Y.12th Std. OR Equivalent     10th Std. OR Equivalent

 

P. P. F.      12th Std. OR Equivalent            12th Std. OR Equivalent

 

Age Required

 

Age between 18 to 50.

 

Documents required for agency

 

Sr.

Particulars

                                        S.A.S.

                                    M.P.K.B.Y.

P.P.F.

 No.

 

Corporation

Other

Corporation

Other

For all Areas

1

National Saving 

 

 

 

 

 

 

Certificate in

Rs.

Rs.

Rs.

Rs.

Rs.

 

favour of own

2,000/-

2,000/-

1,000/-

1,000/-

2,000/-

 

name require

 

 

 

 

 

 

to pledge

 

 

 

 

 

2

Two Guarantors

Two Guarantors

Two Guarantors

Two Guarantors

Two Guarantors

Two Guarantors

 

in the form

of worth Rs.

of worth Rs.

of worth Rs.

of worth Rs.

 

 

prescribed

25,000/-

25,000/-

10,000/-

10,000/-

 

3

Educational

Mark Sheet or

Mark Sheet or

Mark Sheet or

Mark Sheet or

Mark Sheet or

 

Qualification

Certificate of

Certificate of

Certificate of

Certificate of

Certificate of

 

 

passing  12th

passing  10th

passing  12th

passing  10th

passing  12th

 

 

Or Equivalent

Or Equivalent

Or Equivalent

Or Equivalent

Or Equivalent

4

Certificate of

 

 

 

 

 

 

Passing of

 

 

 

 

 

 

Qualifying

                                                                                      For all agencies

 

examination

 

 

 

 

 

 

For new agency

 

 

 

 

 

5

Character &

From Gazetted Officer ( Principal / Headmaster of collage or highschool)

 

 

Conduct

 in the form prescribed of two person

 

 

 

 

Certificate

                                                                                      For all agencies

6

Residential

                                                                                      For all agencies

 

Address proof

Ration Card / Electric Bill / Telephone Bill / Tax Receipt / election card

 

7

Age Proof

Leaving Certificate of 10th Std. / Birth Certificate - attested copy  For all agency

8

Personal

Affidavit on Rs. 20/- /stamp Paper in the format prescribed before the  Authorised degenatory

 

Undertaking

                                                                                      For all agencies

9

Photo Graph

Past port size 4 colour photo for all agencies

 

 

10

Change of

                                                                                      For all agencies

 

Name of

Affidavit on Rs. 20/- /stamp Paper in the format prescribed before the  Authorised degenatory

 

Married women

 OR Marriage registration certificate / GOVT. Gazette Notification copy

 

11

Minimum

 

 

 

 

For Corporation area

 

Collection

10,00,000/-

10,00,000/-

15,000/-

5,000/-

50 new accounts

 

Required

per year

per year

per month

per month

And

 

 

 

 

 

 

For Other Areas

 

 

 

 

 

 

30 new accounts

Note:-

Near Relatives of Central & State GOVT employees are not entitled for agencies.

 

 

If any GOVT Employee desires to have agencies to their near relative they have to submit,

 

 

 "No Objection Certificate" of Head of Department.

 

 

 

 

 

 

Website Membership

 

S A S / P P F Agents

1.  For Corporation area       Rs. 200/- Per Year

2.  For Other areas          Rs 100/- Per Year

Ending 31st December of each year

 

 

Renewal of Agencies

 

·   Every agency is valid up to 3 years.

·   Minimum target to M P K B Y Agents, is 100 new R. D. accounts and minimum Rs. 15,000/- Collection per month for corporation area & 50 new R. D. accounts and minimum Rs. 5,000/- Collection per month for other area.

·   S A S Agents, must be required to achieve minimum collection fixed for Incentives, which is declared by the government on time to time.

·   P P F Agents, must be required to open 50 new accounts for corporation area & 30 new accounts for other, every year.

 

Security deposit in shape of 6 years national savings certificate for every agents

 

   All agents require to submit proposal for renewal to authorities before 45 days in any case.

 

Commission to Agents

 

Particulars                              Rates

 

1.               For  S. A. S. Agent                1%

2.               For M.P.K.B.Y. Agent            4%

3.               For P. P. F. Agent                1%

4.               Pay Roll Group Leader        2.5%

 

 

Incentives To Agents

 

    Incentive is payable to S. A. S. / M. P. K. B. Y. agents. GOVT & Semi GOVT Offices / School / Collages / Companies / Etc. having Pay Roll Groups are entitle for incentives on the yearly collection since From 1st of April To 31st of March every year.

      The Rates of incentives are fixed by GOVT of Maharastra on time to time. No incentive is payable to P. P. F. agents.

      GOVT of Maharastra finance department Commissioner of Small Savings & State Lottery announced minimum / maximum collection ratio for the year 2004-2005 area wise as detailed below :-

 

Sr. No.

Area

Minimum Collection required

Maximum Collection Required

Rate of incentives

 

 

S. A. S.

M.P.K.B.Y.

Pay Roll

S. A. S.

M.P.K.B.Y.

Pay Roll

S.A.S./

Pay Roll

 

 

 

 

 

 

 

 

M.P.K.B.Y.

 

1

Other Municipal

6 Lac

1.8 Lac

150/-Per

3 corers

1 corers

150/-Per

 

 

 

Corporation

 

 

Head for

 

 

Head for

0.50%

0.30%

 

 

 

 

All areas

 

 

All areas

 

 

 

 

 

 

80% coverage

 

80% coverage

 

 

 

 

 

of Employees

 

 

of Employees

 

2

 Municipal

4 Lac

1 Lac

150/-Per

2 corers

0.75 corers

150/-Per

 

 

 

Council

 

 

Head for

 

 

Head for

0.50%

0.30%

 

 

 

 

All areas

 

 

All areas

 

 

 

 

 

 

80% coverage

 

80% coverage

 

 

 

 

 

of Employees

 

 

of Employees

 

3

Rural

1.5 Lac

1.5 Lac

150/-Per

1 corers

0.5 Corers

150/-Per

 

 

 

Areas

 

 

Head for

 

 

Head for

0.50%

0.30%

 

 

 

 

All areas

 

 

All areas

 

 

 

 

 

 

80% coverage

 

80% coverage

 

 

 

 

 

of Employees

 

 

of Employees

 

 

Tax Rates

 

Govt. of India announced Tax Rates As Under. For The Financial Year 2005-2006 & Assessment Year 2006-2007

A}

Particulars                                                        Tax Rate

1.   Up to Rs. 1,00,000/-            No Tax

2.   Rs 1,00,001/- To 1,50,000/-        10%

3.   Rs. 1,50,001/- To 2,50,000/-        20%

4.   Rs 2,50,001/- & Above            30%

B}

Standard Deductions                                Nil

C}

Education cess on Tax                                2%

D}

Surcharge                                                10%

whose Taxable income

above Rs. 10 Lac

 

Targets & Achievement For last 5 Years

( Rs. in Crores )

 

Sr. No.

Financial

Target

Achievement  of                target

Percentage of

Percentage of Increase

 

Year

 

Gross

Net

achievement

as compare to last Year

 

 

 

 

 

of target

Gross

Net

1

2000-01

33

87.65

40.84

121.52

8.23

10.73

2

2001-02

42.93

85.66

27.86

64.88

2.14

31.78

3

2002-03

40

110.73

32.89

82.22

29.1

18.05

4

2003-04

36

136.08

53.32

148.11

22.89

62.11

5

2004-05

50.34

175.86

91.97

186.4

29.23

72.48

 

Scripwise Small Savings Collection Position For The Year 2003-04 & 2004-05

 

Sr. No.

Srip

2003-04

 

2004-05

Percentage of

Previous year

 

 

 

 

 

 

investment2004-05

Comparative percentage

 

 

Gross

Net

Gross

Net

Gross

Net

Gross

Net

1

Saving Bank

27.19

2.67

27.39

1.04

15.5

1.13

-0.73

-156.73

2

R. D.

30.21

4.69

33.06

5.03

18.8

5.47

9.43

7.24

3

T. D. All

3.25

1.62

4.71

1.85

2.6

2.01

44.92

14.19

4

P. P. F.

26.59

20.78

30.82

23.01

17.53

25.01

15.9

10.73

5

N. S. C. (VIII)

9.05

2.26

8.71

2.77

4.95

3.01

-3.9

22.56

6

I. V. P.

-

-3.25

-

-1.59

-

-1.72

-

-104.4

7

N S. S. 87

-

-0.44

-

-0.27

 

-0.29

 

-62.96

8

N S. S. 92

 

-0.09

 

-0.06

 

-0.06

 

-50

9

M. I. S.

30.29

25.6

52.29

46.28

29.74

50.32

72.63

80.87

10

K. V. P.

9.5

-0.52

12.23

7.26

6.95

7.89

28.87

-

11

S. S. C. S. 04

 

 

6.65

6.65

3.87

7.23

 

 

 

TOTAL

136.08

53.32

175.9

91.97

100

100

29.23

72.48

 

District Incentives Grants

                    

Grants are the received from the Government on the achievement of yearly small savings target for the development of the district and the said grants allowayes being distributed amongst the Zillaparishad, Panchayat samities,

Municipal councils on the population basic other than government employees share. On the terms & conditions regarding utilization of grants.

 

For the Year 2000 –2001,2003 – 2004 & 2004 – 2005 in which District Small Savings Target were completed & District Incentive Grants are yet to be received.

 

For Small Savings Publicity grants (10%) received from the government are as under.

 

       Year                                   Rs.

1.   2001 – 2002               2.23 Lac

2.   2002 – 2003               0.35 Lac  

3.   2003 – 2004               0.82 Lac  

4.   2004 – 2005               5.93 Lac

 

 

Agents Incentives for increase Small Savings Collection

 

      

Sr. No.       Year                     Allotment of Incentive Grant

                                                       

1.   1999 – 2000      Rs. 30.18 Lac

2.   2000 – 2001      Rs. 25.73 Lac

3.   2002 – 2003      Rs. 17.94 Lac

4.   2003 – 2004      Rs.   25.77 Lac

5.   2004 – 2005      Rs.   29.55 Lac

( All Grants are distributed amongst agents )

 

Construction of various types of buildings through small savings district incentive grants.

 

Sr. No.            Name of            Year of            Cost of

                  Building            Construction      Building

                                                                        Rs.

1.   A. D. S. S. Quarter   1982       1,15,791.47/-

“Prajakta”

2.   Bachat Bhavan      1982-83      1,39,124.41/-

Employees Quarters   

3.   “Akash Ganga”      1986      17,23,890/-

(12 Flats)

    “Dhyan Ganga”

    ( 8 Flats)

4.  “Suraksha Sadan”      1985      1,92,459.83/-

(Office of the Dist. Supply)

5.  “Kanchan Ganga”      1989      5,70,270/-

(4 Flats)

6.   GOVT Employees        1991        5,10,335/-

  ( Akot & Murtizapur) Two Quarter Each

7.    GOVT Residential    2000        12,02,200/-

Quarter Akola               

8.    “Mukta Giri”            -----            ---------

  ( 4 Flats ) Residential Quarters

9.    Office of the         -----         --------Assistant Director Small Savings

 

 

                        In addition to “Bhachat Bhavan” were constructed from district incentive grants given to zillaparishad / Panchayat Samiti.

 

Akola District

·       Panchayat Samiti Akola      

·       Panchayat Samiti Barshitakali

·       Panchayat Samiti Murtizapur

·       Panchayat Samiti Akot

·       Panchayat Samiti Telhara

·       Panchayat Samiti Patur

 

Washim District

·       Panchayat Samiti Washim

·       Panchayat Samiti Malegaon

·       Panchayat Samiti Risod

·       Panchayat Samiti Karanja (Lad)

·       Panchayat Samiti Mangrulpir

 

Information of Pay Roll Saving Groups Scheme

 

GOVT. / Semi GOVT. / Under takings / Privet Establishment / Educational Institutions

 

Sr.

Category wise

Number of

Total

Covered

Uncovered

% of

No. of

Monthly

Per Capita

 No.

Establishment

Establishment

Employees

Under

Under Pay

 Coverage

 R. D.

Collection

Collection

 

 

 

 

Pay Roll

Pay Roll

of employees

accounts

 

 

1

State GOVT

129

12,575

10,557

2,018

83.95

40,231

30.80 Lac

245/-

2

Z. P.

55

7,873

7,511

362

95.4

30,481

42.51 Lac

540/-

3

Corporation/

6

3,664

2,931

733

80

3,185

5.67 Lac

155/-

 

M. P.

 

 

 

 

 

 

 

 

4

School /

339

10,095

8,530

1,565

84.49

30,570

32.8 Lac

325/-

 

Collage

 

 

 

 

 

 

 

 

5

Central GOVT

26

1,736

1,506

230

86.75

4,303

2.51 Lac

145/-

6

Mahamanda

 

 

 

 

 

 

 

 

 

Employees

13

5,380

4,015

1,365

74.62

8,332

7.8 Lac

145/-

 

 

 

 

 

 

 

 

 

 

 

T O T A L

568

41,323

35,050

6,273

84.81

117,102

122.09 Lac

1,555/-

 

 

For Successful Future Wants Chances

 

India’s Most Reliable :

Maharastra State Lottery

 

 

Traditional Draws

Sagar Laxmi        ( Monday )        Padmini        ( Tuesday )

Akashya        ( Wednesday )                Pushakaraj    ( Thursday )

Vaibhav Laxmi        ( Friday )               Maharasharta Laxmi        ( Saturday )

 

Two Digits Lottery

 

Dhana Laxmi         ( 24 Draws Per Day ) Paper Lottery

 

Bumper Draws

 

·    Diwali

·    Dasera

·    Gudi Padawa

·    Prajasattak Din

·    Natal New Year

·    Maharashtra Din

·    Aakarshak Pushkaraj ( 2nd thursday )

 

Computer Lotteries

 

A} In Lott

 

·    Maharastra Delux ( 24 Drows ) Every 15th minites

 

B} Comp lott

 

·    Dhan Laxmi ( 24 Drows ) Every 15th minites

 

C} Mega Win