Evidence record
Last verified 8 Oct 2026 · 3 sources in this record · Next review 8 Nov 2026
Institution
- Name
- Nagarik Samabay Bank Ltd
Institution's own website · Nagarik Samabay Bank Ltd · Retrieved
- Type
- urban co-operative bankPartially verified
Institution's own website · Nagarik Samabay Bank Ltd · Retrieved
Recorded from the bank's homepage, which states registration as a co-operative society in 1998 and business from May 1999.
- State
- Assam
Regulator · List of Insured Banks · Retrieved
- City
- Guwahati
Regulator · List of Insured Banks · Retrieved
- Website
Institution's own website · Nagarik Samabay Bank Ltd · Retrieved
Regulatory listing
- DICGC insured-bank register
- Listed as an insured bank
Regulator · List of Insured Banks · Retrieved · Source dated
Listed as “Nagarik Samabay Bank Ltd.” in the register updated as on 29 Sep 2026. Not on the de-registered list (12 Aug 2026) or the All Inclusive Directions list (31 Aug 2026).
This is the Deposit Insurance and Credit Guarantee Corporation's own list, read on the date shown. A listing is a fact about the register on that date, not an assessment of the institution. The register covers banks only, so a credit society or Nidhi company will not appear on it.
What the cover is worth, and the conditions attached to it, are in is my deposit protected?
Daily-deposit product
Filed under Pigmy / daily deposit; mapping exact. The page states the bank's authorised agent collects savings at the doorstep at regular intervals.
- Scheme name used
- Pigmy Deposit
Institution's own website · Pigmy Deposit · Retrieved
- Published rate
- Not publicly stated on the reviewed source
Institution's own website · Pigmy Deposit · Checked
States that rates in force under RBI directives apply, without giving a figure.
- Interest method
- Paid at maturity, at the rates in force under the Reserve Bank's directive
Institution's own website · Pigmy Deposit · Retrieved · Effective date not stated
The page names no rate, only the authority the rate follows and when it is paid.
- Minimum deposit
- Not publicly stated on the reviewed source
Institution's own website · Pigmy Deposit · Checked
- Maximum deposit
- Not publicly stated on the reviewed source
Institution's own website · Pigmy Deposit · Checked
- Tenure
- Not publicly stated on the reviewed source
Institution's own website · Pigmy Deposit · Checked
- Early closure
- Not publicly stated on the reviewed source
Institution's own website · Pigmy Deposit · Checked
- Collection away from the branch
- Stated: collected by an agent or staff member
Institution's own website · Pigmy Deposit · Retrieved · Effective date not stated
- Loan against the deposit
- Available with adequate margin
Institution's own website · Pigmy Deposit · Retrieved · Effective date not stated
No percentage is stated.
Check for yourself before acting
- Ask the institution for the current rate in writing. Published rates change without notice.
- Ask what you would receive if the account is closed early.
- Ask how interest is calculated and when it is credited.
- Check the DICGC insured-bank list yourself on the day you decide.
Pigmity is independent and is not affiliated with Nagarik Samabay Bank Ltd. This is not the institution's page, not an official register, and not a recommendation.
Each fact shows its source, the date Pigmity read it, and whether the source states an effective date. “Not publicly stated” means the reviewed source was read and does not give the fact. “Not established” means Pigmity has not established it. Neither means no.
Spotted an error? Write to hello@pigmity.com with the institution and what is wrong, and a link to where the correct figure is published if you have one. The report form is closed for now, so nothing is collected through this page.
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Pigmity's analysis
Nagarik Samabay Bank Ltd, registered as a co-operative society in October 1998 and trading since May 1999, offers a scheme it calls a Pigmy Deposit. Its page states that the bank's authorised agent collects savings at the depositor's doorstep at regular intervals.
What is open, and what is not
Eligibility is wide: any person approved by the bank, co-operative societies, registered trusts, joint holders, and minors through a guardian. Documentation is a photograph with proof of address and identity, and loans against the balance are available with what the bank calls "adequate margin".
On interest, the page refers to the rates in force under the Reserve Bank's directive and says interest is paid at maturity. It gives no rate, no minimum deposit, no term and no early-closure rule. 7 of the 19 institutions in our directory publish no rate for the collected product on the pages we reviewed, and this bank is among them.
Why the location is the point
The state regulation and the litigation we have found concern Karnataka and Maharashtra, which makes it easy to conclude the product lives only there. A Guwahati bank running it under the Karnataka name, and a Hyderabad bank running the same mechanism under another name, point the other way.
Nobody publishes a national count of institutions running daily collection, and we are not going to invent one. What the evidence supports is narrower: the two-state picture is too small.
Where it sits
The bank is listed in the DICGC insured-bank register, as Nagarik Samabay Bank Ltd., Guwahati, in the list updated on 8 September 2026. Its homepage refers to its Reserve Bank licence; our evidence record marks its banking category as partially verified.
Questions
- Is pigmy collection only a Karnataka and Maharashtra practice?
- No. This bank runs doorstep pigmy collection from Guwahati, and a Hyderabad bank runs a named daily-deposit scheme through an authorised agent. The product is associated with Karnataka and Maharashtra because the state regulation and litigation we have found concern those two states. Nobody publishes a national count of institutions running it, and we do not estimate one.
- What interest does this scheme pay?
- The page does not give a figure. It says interest is paid at the rates in force as per the Reserve Bank's directive, and that interest is paid at maturity. That names an authority and a timing, not an amount, so ask the branch for the rate.