Savings Mobilized by NSS records net inflow of Rs1.44bn in November

MG News | January 05, 2024 at 10:20 AM GMT+05:00

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January 05, 2024 (MLN): The net inflows of Savings Mobilized by National Savings Schemes (NSS) stood at Rs1.44 billion in November as compared to substantial outflows of Rs28.09bn in the previous month, the latest data issued by the State Bank of Pakistan (SBP) showed today.

Breaking down the figures, the Defence Saving Certificates (DSC) experienced a net outflow of Rs1.04bn in November 2023, indicating that more funds were withdrawn from DSCs than invested during this month.

Similarly, the Regular Income Certificates (RIC) recorded an outflow of Rs8.53bn, and Rs1.44bn was withdrawn or redeemed from the Special Savings Certificates (SSC).

Meanwhile, Rs236.7m was injected into Prize Bonds.

Moreover, other savings categories within NSS recorded receipts totaling Rs12.21bn. It rose substantially as compared to outflows worth Rs5.05bn in the previous month.

To note, in the fiscal year 2023, the net outflows from Savings Mobilized by NSS stood at Rs381.87bn, while the current fiscal year has seen outflows worth Rs32.27bn, reflecting a consistent trend of net payments from these savings schemes.

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