National Small Savings Fund

  • National Small Savings Fund (NSSF) in the Public Account of India was established in 1999
  • The Fund is administered by the Government of India, Ministry of Finance (Department of Economic Affairs) under National Small Savings Fund (Custody and Investment) Rules, 2001, framed by the President under Article 283(1) 
  • The objective of NSSF is to de-link small savings transactions 
  • Consolidated Fund of India and ensure their operation in a transparent and self-sustaining manner.
  • Since NSSF operates in the public account, its transactions do not impact the fiscal deficit of the Centre
  • Small savings instruments can be classified under three heads:
    • Postal deposits (comprising savings account, recurring deposits, time deposits of varying maturities and monthly income scheme)
    • Savings certificates like: National Small Savings Certificate(NSC) and Kisan Vikas Patra (KVP)
    • Social security schemes like: Public Provident Fund (PPF) and Senior Citizens‘ Savings Scheme(SCSS)
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