1000 agents left unemployed, 2 lakh depositors suffer
Excelsior Correspondent
Srinagar, May 12: The district administration of Jammu has failed to renew the authorization of agents working under the Government of India’s Mahila Pradhan Kshetriya Bachat Yojana (MPKBY), resulting in problems for over 2 lakh depositors in the district.
Under the scheme, the authorizations issued to agents designated for the collection of monthly deposits from women depositors are valid for 3 years and require renewal thereafter.
According to details, the issuance and renewal of agent certificates were initially handled by the National Savings Organisation of the Ministry of Finance. However, the office closed in 2002, and the responsibility for issuing licenses and renewals was transferred to the State Governments.
Follow the Daily Excelsior channel on WhatsApp
Subsequently, the Deputy Commissioner’s office in Jammu has been responsible for renewing the licenses of agents in the district, authorizing them to collect deposits, from 2002 to 2024.
However, affected individuals now allege that the district administration’s office in Jammu is denying them renewal of authorizations, which it has been doing for the past 22 years.
They claim this has left nearly 1000 agents unemployed and has exacerbated the problems of more than two lakh depositors in the Post Offices of Jammu district.
Moreover, they noted, with agents unable to collect monthly deposits, depositors are subjected to a 2% monthly penalty for late deposits.
It is worth noting that the MPKBY was introduced in 1972 by the Government to popularize National Savings Schemes among the masses, secure investments from the public, and provide doorstep services to prospective investors, particularly empowering women.
Under the scheme, qualified women were appointed as authorized agents to promote the schemes, educate investors-especially domestic women-about small savings, and highlight the benefits available to them.
Affected individuals claim that authorization letters in Jammu were previously renewed easily by the district administration every three years upon receipt of a simple application from the authorized agent.
However, this year, they noted, the district authorities in Jammu first requested additional formalities along with the renewal application, such as an affidavit from the agent and character verification from the concerned Police Station.
“Despite providing these documents, the district authorities still denied renewal, citing an order from 2005 issued by the Govt of J&K,” they said.
Notably, under the MPKBY, collections from depositors are made in cash by the agent and deposited in cash with the Post Office, while the objectives of the scheme are to educate housewives in family budgeting, to inculcate the habit of thrift among households and self-employed people and to canvass for and secure investments in Post Office
As per the rules, the responsibility for appointment of renewal of small savings agents to promote the various small savings schemes issued by Government of India, vests with the State Governments.
“Instructions have been issued by the Government of India for appointment of agents under the Standardized Agency System, the Mahila Pradhan Kshetriya Bachat Yojana and the PPF Agency System,” the rules state.
An official, speaking on the condition of anonymity, stated that they are currently on it, emphasizing that they are awaiting instructions on how the process of granting the authorization should be carried out.
Follow our WhatsApp channel
