1. They are schemes operated by National Savings Institute of the Ministry of Finance, Government of India. 2. They are also called Small Savings Schemes 3. They are governed under the Government Savings Promotion Act, 1873, and the Department of Economic Affairs (DEA), Ministry of Finance provides the overall policy, regulates the interest rates, and sets the rules for these schemes. 4. In other words, rules for such schemes are issued by the Ministry of Finance under the Government Savings Promotion Act, 1873. 5. Banks act as agency banks 6. Even though RBI regulates banks, operational instructions and rules, commissions for these schemes are issued by the Ministry of Finance, not RBI