{"id":317573,"date":"2024-11-27T18:55:57","date_gmt":"2024-11-27T13:25:57","guid":{"rendered":"https:\/\/forumias.com\/blog\/?p=317573"},"modified":"2024-11-27T21:26:48","modified_gmt":"2024-11-27T15:56:48","slug":"national-small-savings-fund-nssf","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/national-small-savings-fund-nssf\/","title":{"rendered":"National Small Savings Fund (NSSF)"},"content":{"rendered":"<p><strong>News<\/strong>: The Delhi government has submitted a proposal to the Union Finance Ministry to borrow Rs 10,000 crore from the National Small Savings Fund (NSSF).<\/p>\n<h2>About National Small Savings Fund (NSSF)<\/h2>\n<p><strong>1.<\/strong> NSSF is a fund that <strong><em>collects money from various small savings schemes<\/em><\/strong>.<\/p>\n<p><strong>2.<\/strong> It was established in 1999 within the <em><a href=\"https:\/\/forumias.com\/blog\/consolidated-fund-and-contingency-fund\/#:~:text=Public%20account%20of%20India%20is,make%20advances%20from%20this%20account.\" target=\"_blank\" rel=\"noopener\">Public Account of India<\/a><\/em>.<\/p>\n<p><strong>3.<\/strong> The fund is <strong><em>administered by the Ministry of Finance<\/em><\/strong>, under the National Small Savings Fund (Custody and Investment) Rules, 2001. These rules are based on <em><strong>Article 283(1)<\/strong><\/em> of the Constitution.<\/p>\n<p><strong>4.<\/strong> The money held in the NSSF is<em><strong> used by the Centre and states to cover their fiscal deficits<\/strong><\/em>. The remaining amount is invested in central and state government securities.<\/p>\n<p><strong>5.<\/strong> Loans made from NSSF are more expensive than market borrowings.<\/p>\n<h2>About Small saving Schemes<\/h2>\n<p><strong>1.<\/strong> These are government-backed savings instruments designed to encourage citizens of all ages to save consistently.<\/p>\n<p><strong>2.<\/strong> Savings scheme funds can be used for a mortgage, child\u2019s education, marriage, or medical emergencies.<\/p>\n<p><strong>3. Features:<\/strong><\/p>\n<ul>\n<li>They offer returns higher than bank fixed deposits.<\/li>\n<li>They come with sovereign guarantees and provide tax benefits.<\/li>\n<li>The interest rates on small savings schemes are revised quarterly.<\/li>\n<\/ul>\n<p><strong>4. Small Saving Schemes can be grouped under three heads:<\/strong><\/p>\n<p><strong>(a) Post office Deposits<\/strong>: Post Office Savings Account, Post Office Time Deposits (1,2,3 and 5 years), Post Office Recurring Deposits and Post Office Monthly Account.<\/p>\n<p><strong>(b) Savings Certificates<\/strong>: National Savings Certificate and Kisan Vikas Patra<\/p>\n<p><strong>(c) Social Security Schemes<\/strong>: Public Provident Fund, Senior Citizens Savings Scheme and Sukanya Samriddhi Account<\/p>\n","protected":false},"excerpt":{"rendered":"<p>News: The Delhi government has submitted a proposal to the Union Finance Ministry to borrow Rs 10,000 crore from the National Small Savings Fund (NSSF). About National Small Savings Fund (NSSF) 1. NSSF is a fund that collects money from various small savings schemes. 2. It was established in 1999 within the Public Account of&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/national-small-savings-fund-nssf\/\">Continue reading <span class=\"screen-reader-text\">National Small Savings Fund (NSSF)<\/span><\/a><\/p>\n","protected":false},"author":10367,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,12039],"tags":[11872],"class_list":["post-317573","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-knolls","tag-9pm-daily-factly","entry"],"jetpack_featured_media_url":"","views":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/317573","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10367"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=317573"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/317573\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=317573"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=317573"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=317573"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}