Question

Write names of any two Government organisations for saving money.

Hint:

Government-backed saving schemes like PPF and EPF offer secure, long-term investment options with guaranteed returns.

Answer 1

Step 1: Government organisations for saving money.
There are several government-backed organizations that encourage saving money and offer safe and guaranteed returns on investments.
Step 2: Post Office Savings Bank.
The Post Office Savings Bank is a government organization offering a range of savings schemes like the Public Provident Fund (PPF), recurring deposits, and fixed deposits, with low-risk investment options. It ensures guaranteed returns.
Step 3: Employees' Provident Fund (EPF).
EPF is a retirement savings scheme where both the employee and employer contribute a portion of the salary towards the fund. The government ensures a fixed interest rate on the fund, making it a secure long-term saving instrument.