Government Committed to Increase Savings Rate in the Country: Secretary, Financial Services; Various Initiatives Announced; New Products for Mobilizing Savings to be Launched Soon; KYC Norms Simplified to Include Poorest of the Poor in the Formal Financial Sector

National Savings Institute (NSI), Ministry of Finance, Government of India jointly celebrated here today the World Thrift Day, in collaboration with World Savings & Retail Banking Institute (WSBI), Brussels. In his message on this occasion, the Prime Minister Shri Narendra Modi said that Thriftiness teaches us to be more modest and restrain ourselves in using scarce resources as well as provide support to the developmental efforts by mobilization of resources through National Savings Schemes. The Union Finance Minister Shri Arun Jaitley in his message stated that It should be the endeavour of all the agencies engaged in mobilization of savings to ensure that the savings movement is taken to the farthest corners of our country.