‘It’s The Guarantee That Matters’

While every asset management company and banks claim that investors’ money is safe with them, one of the safest options for parking your wealth remains somewhat subdued. That’s the good-old Post Office Savings Scheme (POSS). In a candid interaction with Jyotika Sood, Pradipta Kumar Bisoi, Secretary to the Department of Posts, shares the insight into the success of POSS through generations. Excerpts from the interview: What keeps people interested in POSS even today? National Savings schemes that are offered through post offices are formulated by the Ministry of Finance. Therefore, they come with a sovereign guarantee as the money is with the Indian government when you invest it through these schemes. The other advantage of our schemes is that the rate of interest offered is generally higher than what banks offer because the rates are decided by the government and it tries to...