ISLAMABAD: The Central Directorate of National Savings (CDNS) has achieved Rs14 billion savings till the second month of the first quarter of the current fiscal year from 1 July to 15 August 2018-19.
The CDNS has set Rs210 billion net target for fiscal year (2018-19), a senior official of CDNS told agencies here on Sunday.
Central Directorate of National Savings (CDNS) has notified for enhancing profit rates for various saving certificates from 1 July 2018, to benefit its investors especially the widow and pensioners.
“The enhancement in previous profit rates is 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 rates for Defence Savings Certificate, Special Saving Certificate and Account, Regular Income Certificate and Savings Accounts had been revised upward at an average of 8.30 per cent, 7.10 per cent, 8.04 per cent and 5 per cent respectively.
The official said the profit rate of return for specialized savings schemes like Bahbood Savings certificates and Pensioners’ Benefit Account had also been revised upward respectively at 10.20 per cent to provide a safety net to specialized segments of the society.
The CDNS had launched its modernization plan in collaboration with National Institutional Facilitation Technologies (NIFT), for facilitating the customers, he added.
He said that around 800 branches would be computerized and links with modern Information Technology (IT) tools by October 30, 2018.
