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The History of National Savings Bank
The National Savings Bank that stands today is one of the first institutions in the country with a legacy of more than 140 years, which came into being in 1873 with the enactment of the Government Savings Bank Act. Used by the British government during World Wars I and II. The channel raises funds to cover war-related expenses.
When Pakistan came in being
Since independence in 1947, the organization has been operating in various forms in Pakistan. The bureau was renamed the Central Directorate of National Savings (CDNS) in 1953 and its functions and responsibilities were following the NSB.
National savings launched schemes
In September 1960, it was to reshape the structure of the CDNS so that the attached department of the Ministry of Finance would have the power to formulate policies and implement various National Savings Schemes (NSS).
These continuous promotions made it necessary for the government to transform the CDNS into a technical department. And give the Director General (DG) working in DPS 21 all the powers of a department head.
The biggest hub of nationa saving fainancing
The year 1972 marked a turning point in the long journey of national savings under which the organization. It had made responsible for all policy matters and implementation of various NSS. However, before December 1971, national savings operations were limited to advertising and publicizing its proposed investment schemes. So far, CDNS has been able to promote financial savings in the economy and has provided the government with the necessary funds for budget deficits and infrastructure projects. As the guardian of the nation’s savings.
Today, National Savings is the largest investment and financial institution in Pakistan with a portfolio of over Rs. 10 million. More than 3.4 trillion and more than 04 million valued investors receive the benefits through a large network of 376 branches across the country controlled by 12 Regional Savings Directorates (RDNS).