Guides
Long-form explainers on how pigmy and daily-deposit schemes work, what they pay, and the rules behind them. Every guide cites its sources, with dates checked.
- Guides
Loan against a pigmy deposit
Borrowing against your own daily-deposit balance instead of closing it. What institutions publish, how to work out the real cost, and the catch at maturity.
Updated 4 Oct 2026Read - Guides
When your bank merges
A merger moves your pigmy balance and interest to the new bank. The name, account number, passbook and even the scheme name can change. What to check, and when.
Updated 4 Oct 2026Read - Guides
Pigmy and core banking
The pigmy account usually lives in your core banking system already. The agent's round often does not. How to tell which you have before buying anything.
Updated 3 Oct 2026Read - Guides
Under directions
The Reserve Bank can restrict a co-operative bank without cancelling its licence. What directions freeze, and how they differ from failure and liquidation.
Updated 25 Sep 2026Read - Guides
What a PACS is
A Primary Agricultural Credit Society is a village co-operative, not a bank. What the law lets it do, what the Ministry's model says on deposits, what to check.
Updated 25 Sep 2026Read - Guides
Is my deposit protected?
Co-operative registration, a banking licence, RBI regulation and DICGC cover are four different things. What each is, what ₹5,00,000 covers, and how to check.
Updated 21 Sep 2026Read - Guides
Same scheme, different names
Shree Account, Bachat Nidhi, Nithya Dhara, Vishwasanchay Yojana, Daily Deposit, Pigmy. What each name is, who published it, and what a name cannot tell you.
Updated 21 Sep 2026Read - Guides
Bank or credit society
Both are co-operative societies. Only one holds a banking licence, and that licence decides deposit insurance, who supervises it, and where a complaint can go.
Updated 18 Sep 2026Read - Guides
Nomination and death claims
New RBI Directions set one claim procedure for every bank, a 15-day settlement deadline and compensation for delay. Co-operative banks differ on one threshold.
Updated 17 Sep 2026Read - Guides
If your institution fails
Deposit insurance pays ₹5,00,000 per depositor per bank, on a statutory timetable, and only for banks. What it requires of you, and where a society leaves you.
Updated 16 Sep 2026Read - Guides
Where to complain
A missing credit, an agent who stopped calling, a passbook that does not match. Which forum hears it depends on whether your account is at a bank or a society.
Updated 16 Sep 2026Read - Guides
Co-operative credit structure
PACS, DCCB and state co-operative bank are three separate institutions, not branches of one bank. What the law makes each, and why insurance stops partway down.
Updated 25 Sep 2026Read - Guides
PACS computerisation
A ₹2,516 crore project is putting 63,000 village societies on common software by 2027. The published scheme documents never mention daily or pigmy collection.
Updated 11 Sep 2026Read - Guides
Unregulated deposit schemes
The Banning of Unregulated Deposit Schemes Act, 2019 bans deposit schemes outside its schedule of regulators. What it means for a daily collection round.
Updated 9 Oct 2026Read - Guides
How pigmy collection works, step by step
The operational flow of a pigmy deposit end to end: agent appointment, KYC, the daily route, the receipt, cash remittance, branch reconciliation and maturity.
Updated 9 Sep 2026Read - Guides
How to become a pigmy collection agent
What the job involves, who appoints agents, what commission actually pays per month, the cash risk you carry, and the legal question nobody has settled.
Updated 9 Sep 2026Read - Guides
Pigmy agent commission: rates, state caps and the tax question
A pigmy agent is paid a share of what they collect, usually 2.5% to 3%. Who fixes the rate, who bears the cost, what it pays a month, and what is unsettled.
Updated 16 Sep 2026Read - Guides
Pigmy collection fraud: the failure modes, the cases, and the safeguards
Doorstep cash collection fails in four specific ways, all of them inside the gap between your hand and the ledger. The cases, and what each side can do.
Updated 9 Sep 2026Read - Guides
The history of the pigmy deposit scheme
Syndicate Bank launched pigmy deposits in Udupi in 1928 to collect a few annas a day from fisherwomen and weavers. How the scheme began and where it stands now.
Updated 9 Sep 2026Read - Guides
Pigmy deposit interest rates, by institution
What named banks, co-operatives and a Nidhi company publish on pigmy and daily-deposit schemes, each rate read from the institution's own page and dated.
Updated 11 Sep 2026Read - Guides
The rules behind pigmy collection: RBI, states and who regulates what
Doorstep cash collection is regulated, and since December 2025 smaller urban co-operative banks may use only their own employees for it. What the rules say.
Updated 9 Sep 2026Read - Guides
Pigmy collection machine or mobile app: how to decide
Nobody publishes a price for these devices. Here is what each option actually does, and a cost framework you can fill in with the quotes you get.
Updated 9 Sep 2026Read - Guides
Pigmy deposit vs recurring deposit vs SIP
A pigmy deposit pays less than a recurring deposit at the very same bank. That gap is what a daily collector at your door costs. Here is the honest comparison.
Updated 9 Sep 2026Read - Guides
What is a pigmy deposit?
A pigmy deposit is a daily-collection savings account: an agent visits, collects a small amount, and the bank pays interest at maturity. Here is how it works.
Updated 18 Sep 2026Read