Savings Mobilized by NSS records Rs13.71m in July 2023

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MG News | September 06, 2023 at 09:49 AM GMT+05:00

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September 06, 2023 (MLN): The net receipts of Savings Mobilized by National Savings Schemes (NSS) stood at Rs13.71 million in the month of July 2023, the latest data issued by the State Bank of Pakistan (SBP) showed yesterday.

Breaking down the figures, the Defence Saving Certificates (DSC) experienced a net outflow of Rs1.07m in  July 2023, indicating that more funds were withdrawn from DSCs than invested during this month.

Similarly, the Regular Income Certificates (RIC) recorded an outflow of Rs22.36m, and Rs3.25m was withdrawn or redeemed from the Special Savings Certificates (SSC).

In addition, Rs0.51m was withdrawn from Prize Bonds.

On the other hand, other savings categories within NSS contributed to the overall savings mobilization, with receipts totaling Rs40.9m.

To note, in the fiscal year 2023, the net receipts of Savings Mobilized by NSS stood at negative Rs382.77m, reflecting a consistent trend of net outflows from these savings schemes during the year.

Copyright Mettis Link News

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