As People Rush To Exchange Notes, Post Offices Promote Investment Schemes

Mumbai: With people thronging not only the banks but also the post offices, which otherwise wear a deserted look, to exchange the demonetised currency notes, the Postal Department has seized the opportunity to promote its savings and investment schemes.

Officials of Maharashtra and Goa circle of the Department of Post have made necessary arrangements to make announcements about the savings and investment schemes to the people, who are coming to exchange the notes.

"The people who are coming to exchange the currency notes, are our potential customers. We want them to come and invest their money into our different lucrative schemes that we have launched over a period of time," Chief Post Master General of Maharashtra and Goa circle Harish Chandra Agrawal told PTI.

Highlighting the schemes, he said, "People can invest in monthly income scheme (MIS), Sukanya Samriddhi Yojana, time deposit schemes, Public Provident Fund (PPF) and other saving schemes which are giving best returns as compared to other forms of investments."

"In addition to these, people can also invest their money in recurring deposit (RD) Scheme, Kisan Vikas Patra (KVP), Senior Citizen Saving Scheme, Post Office Savings Bank (POSB), which give good returns," Agrawal added.

Maharashtra and Goa circle has a network of 61 head post offices, 2,154 sub-post offices and 10,644 Gramin Dak Sewa.

Talking about the people rushing to exchange the notes, another senior officer from the circle said there was no need to panic as they still have at least 50 days left to get the notes changed.

"We are doing every bit to serve the people who want to exchange the notes. It may take some time for the newly-printed notes to reach our various post offices, but we are hopeful that the process would get streamlined very soon," the official said.

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