Investors withdraw Rs24.86bn from NSS during Aug

MG News | October 05, 2021 at 04:42 PM GMT+05:00

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October 5, 2021 (MLN): Investors withdrew Rs24.86billion on a net basis from National Savings Schemes (NSS) during the month of Aug’21 compared to the inflow of Rs7.28bn in the same month last year, Central bank data showed on Tuesday.

Cumulatively, during 2MFY21, NSS witnessed a massive outflow of investments worth Rs50.98bn.

The massive outflow was attributable to the ban on financial institutions to invest in NSS, registration requirement for prize bonds of higher denominations, and strict implementation of anti-money laundering laws and know-your-customer (KYC) conditions.

According to SBP’s data, the outflow of investments from NSS during the previous month (July’21) alone amounted to Rs26.1billion, indicating that the outflows declined by 5% MoM.

During Aug’21, most of the outflows were recorded in Prize Bonds (Rs16bn against Rs2.4bn in Aug’20) followed by Special Saving Certificates (Rs10.8bn) and Defense Saving Certificates (Rs669.6mn).

While the Regular Income Certificates remained the major source of inflows during the month as they attracted Rs2.23bn.

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