Interest Rate – In the Post Office’s NSC schedule, interest is paid at the rate of 6.8 percent per annum. It is compounded on an annual basis, but payment is only on the due date. The term of office of this scheme is 5 years old. However, after the term has expired, it can be extended for another 5 years.
The entire state of Maharashtra is covered by this scheme. To begin with, two rural districts / regions have been identified for each region: Akola and Washim in Nagpur region; Parbhani and Hingoli in Aurangabad region; Solapur and Pandharpur in the Pune region; Kolhapur and Sangli in the Goa region; And Malegaon and Palghar in Navi Mumbai region. A total of 50 villages in each district will be covered during the current 2020-2021 fiscal year. Regional offices will identify the villages to be included. How does the scheme reach each village? This will be carried out by a team of five Gramin Dak Sevaks who will be assigned a village to market all of the postal department’s products, savings and insurance schemes. This team will be led by the branch mailmaster of the relevant branch office. The postal inspector personally monitors the team’s progress on a daily basis. The teams will be led and supervised by the respective department heads, assistant post inspectors and inspector posts. CampaignThe Gramin Dak Sevaks team will conduct door-to-door awareness campaigns involving all eligible villagers on all schemes. Wide publicity will be achieved by posting the information on the branch notice board. Large sites of targeted villages such as Panchayat offices, schools, village pharmacies, bus stations and markets will also be used for advertising and pamphlets will be distributed. Small fairs will be organized taking into account the Kovid-19 safety guidelines.
Training and monitoringThe necessary training and infrastructure to cover all arrangements will be provided to all branches in the identified villages. The progress and achievement of the scheme’s objectives will be closely monitored at the circle, region and division levels. Monthly progress is reviewed by the Chief Post Master General. Chief Post Master General of Maharashtra Circle and Goa State, Harish Chandra Aggarwal assured the minister that Maharashtra would later be a good example of the successful implementation of the Five Star Village Scheme, paving the way for the scheme to start nationally . Director General (posts), Vineet Pandey; And Postmaster General, Mumbai region, Swati Pandey also participated in the online launch.