The Financial Express

Postal savings schemes: Automation launch today to create savers’ database

FE REPORT | Published: March 11, 2020 10:32:39 | Updated: March 14, 2020 13:15:34

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Finance Minister AHM Mustafa Kamal will inaugurate an automation programme today (Wednesday) meant for creating a database of savers who will open savings accounts with directorate of posts.

Two key savings accounts such as postal demand deposits and time deposits will be brought under this programme.

As a result, the would-be account holders will have to submit their NIDs and TINs while opening such accounts.

This is also meant for taming abuse of such high interest-bearing accounts by some people.

Such type of database will help identify savers if they cross limit of deposits. And if anyone deposits money by evading taxes, he/she will also be detected.

However, the finance minister will inaugurate the programme at his secretariat office at 11:00 am.

Post and telecommunication minister Mustafa Jabbar, senior secretary to Internal Resources Division Abu Hena Md. Rahmatul Muneem, Finance Division secretary Abdur Rouf Talukder, Director General at Directorate of National Savings Shamsunnahar Begum, Director General of Postal Directorate Sudhangshu Shekhar Bhadra, Programme Director at the Public Expenditure Strengthening Programme Md Habibur Rahman and other high officials are expected to attend the inaugural function.

Earlier, four savings schemes of directorate of posts were brought under the same system.


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