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Odisha Govt Offers Cash Rewards On Post Office Small Savings Schemes

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To promote the adoption of government small savings schemes like PPF (Public Provident Fund), NSC (National Savings Certificate) and post office fixed deposits, the Odisha government has revised its existing scheme that offer additional benefits.

Under the "Odisha Small Savings Incentive Scheme AQ Series" the state-government will conduct lucky draws of the small savings scheme investors to award them with cash rewards.

Odisha Govt Offers Cash Rewards On Post Office Small Savings Schemes
 

In a notification on the Automation of Small Savings Scheme department of the Odisha government, it said, "Odisha Small Savings Incentive Scheme "AQ" series has been launched for the calendar year-2019. Issue of free incentive coupon under the scheme has already been started."

Features of the scheme:

  • The scheme will be open till 31 December 2019.
  • Minimum amount of deposit is Rs 2,000 for participating in the scheme.
  • One free incentive coupon is to be issued for deposit of Rs 2,000 each.
  • Eligible Small Savings schemes are NSC-VIII issue, KVP, SSA, PPF, SCSS P.O.M.I.S/N.S.M.I.A, P.O.R.D/N.S.R.D.A and 5yr P.O.T.D/5yr N.S.T.D.A.
  • Deposits must made in any post office or bank situated within the State of Odisha only. SCSS deposits made in banks should be a Govt. of India Small Savings Scheme.
  • Last date of issue of coupon 29 February 2020
  • Date of draw: 26 April 2020 at Bhubaneswar.
  • There are 2,428 number prizes in 07 categories.
Category of prize No. Of prizes Amount of prize money of each prize (in Rs.) Total amount of prize money (in Rs.)
1st Prize 1 Rs 5 lakh Rs 5 lakh
2nd Prize 1 Rs 3 lakh Rs 3 lakh
3rd Prize 2 Rs 1 lakh Rs 2 lakh
4th Prize 4 Rs 50,000 Rs 2 lakh
5th Prize 20 Rs 10,000 Rs 2 lakh
6th Prize 400 Rs 5,000 Rs 20 lakh

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