Savings Mobilized by NSS records net outflow of Rs28bn in October

MG News | December 27, 2023 at 12:23 PM GMT+05:00

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December 27, 2023 (MLN): The net payments of Savings Mobilized by National Savings Schemes (NSS) stood at Rs28.09 billion in October as compared to payments of Rs12.33bn 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Saving Certificates (DSC) experienced a net outflow of Rs8.12bn in October 2023, indicating that more funds were withdrawn from DSCs than invested during this month.

Similarly, the Regular Income Certificates (RIC) recorded an outflow of Rs13.77bn, and Rs910.85m was withdrawn or redeemed from the Special Savings Certificates (SSC).

Similarly, Rs244.87m was redeemed from Prize Bonds.

Moreover, other savings categories within NSS recorded payments totaling Rs5.05bn.

To note, in the fiscal year 2023, the net outflows from Savings Mobilized by NSS stood at Rs381.87bn, reflecting a consistent trend of net payments from these savings schemes during the year.

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