Tarun Karthick
Sri Vijaya Puram, 09 August 2025
In a bid to deal with the long-pending grievances of postal financial savings brokers, Mr. Bishnu Pada Ray, Hon’ble Member of Parliament, Andaman & Nicobar Islands, met Union Finance Minister Mrs. Nirmala Sitharaman at Parliament House on 08th August 2025. He was accompanied by a delegation from the National Small Savings Agents Association, India.
The assembly got here within the wake of repeated representations from the Association over what they termed as an “unjust” discount of their fee charges. The delegation identified that their fee was slashed from 1% to 0.5% in 2011 by the then UPA-II Government, following an earlier lower from 2% to 1%. Despite a number of appeals, the unique 1% fee has not been restored.
Highlighting the function of over six lakh brokers throughout the nation, the Association stated these government-appointed employees play an important function in mobilizing small financial savings by selling schemes akin to Kisan Vikas Patra, National Savings Certificates, Sukanya Samriddhi Yojana, Recurring Deposits, and Monthly Income Schemes. In addition, brokers additionally unfold consciousness about schemes like Senior Citizens Savings Scheme and Public Provident Fund, typically with none fee.
The delegation burdened that repeated cuts in fee have severely impacted their revenue and morale, regardless of their contribution to strengthening the financial savings tradition on the grassroots degree.
After listening to their issues, the Finance Minister assured the group that the matter can be examined and thought of appropriately.
Expressing optimism, Mr. Bishnu Pada Ray stated he hopes the professional calls for of the brokers—who function essential grassroots monetary outreach employees—will probably be resolved quickly within the curiosity of justice and to encourage financial savings throughout the nation.
