Odisha small savings incentive scheme launched

The Odisha government on Thursday launched a small savings scheme for 2019 to stop people from transacting with 'suspicious' non-banking private financial institutions, a finance department official said.

Under the Odisha Small Savings Incentive Scheme, any eligible person who deposits a minimum amount of Rs 2,000 in any small savings scheme during 2019 in any post office or bank within the state, can obtain a free web based coupon from the office of the collectors, sub-collectors and BDOs.

A state level lucky draw of the scheme will be held on April 26, 2020, in which people can win cash award as incentive for their habit of thrift, the official said.

According to the provisions of the scheme, there are 2,428 number of prizes in seven categories, amounting to Rs 74 lakh, including the first prize Rs 5 Lakh.

The objective of the scheme is to prevent people from transacting with suspicious non-banking private financial institutions, in the greed of high returns, the official said.