The Central Directorate of National Savings (CDNS) has achieved Rs 92 billion in last months of second quarter of current fiscal year from July 1 to December 08, 2016-17.
The target for the fiscal year 2016-17 was set at Rs 228 billion as the directorate was able to achieve the target of Rs 218 billion for the previous fiscal year, a senior CDNS official said on Wednesday.
The CDNS has notified upward revision in the profit rates for various saving certificates which has been made applicable from October 3, 2016.
“The instant revision was made in the backdrop of current market scenario and in accordance with the government’s policy to provide market based competitive rate of return to the investors of National Savings,” he said.
He said as per notification issued by the federal government, the new rates for Defence Savings Certificate, Special Saving Certificate, Regular Income Certificate, Savings Accounts, have been revised upward at an average of 7.44 percent, 5.8 percent, 6.36 percent and 3.90 percent, respectively.
The official said the profit rate of return for specialised savings schemes like Bahbood Savings Certificates and Pensioners’ Benefit Account has also been revised up and fixed at 9.36 percent in order to provide safety net to specialised segments of the society.
CDNS achieves Rs 92 billion target in 2nd quarter of FY 16-17
