Investors of National Savings deposit their amounts in this center and they get the profit on the monthly basis from the saving centers. Now it has taken the step to introduce new initiative that they can get monthly profit on their deposited amount from their bank accounts and they do not need to visit the National Saving Centers.
State Bank of Pakistan has announced that the Central Directorate of National Savings allowed the clearing house membership on Wednesday. The bank also revealed that the SBP has instructed all banks formally to accept the profit coupons, which are related to the Pensioners Benefit Account and Saving Account of CDNS.
The central bank added that the investors deposit these instruments directly in the bank accounts, which are located anywhere in Pakistan and these instruments will be cleared by CDNS through the use of NIFT. When they receive the successful clearance from National Savings, the banks will credit the relevant accounts of these investors.
National Savings has taken up this initiative to provide the proficient and safe mechanism for general public so that they can get their profits from the National Savings. The investors should note that their monthly profit can be drawn from the bank accounts and they do not need to stand in the long queue for long time as their most of the time is consumed there on the windows and the senior citizens, which was the great problem for the people.
State bank of Pakistan was backed this initiative and SBP in included it in their personal goal of SBP Strategic Plan 2016-2020. To meet the strategic plan, the central bank aimed at the creation of the modern and robust payment system to make things easier for general public in terms of the providing secure, efficient and low cost payment services.
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