At a glance
- Institution in our directory
- Nagarik Samabay Bank Ltd, Guwahati
- Scheme
- Pigmy Deposit
- Collection
- By the bank's authorised agent, at the doorstep
- Rate published
- None on the page reviewed
- State cap on agent commission
- None found
- Pages read
- 10 and 11 September 2026
Pigmy collection began in Udupi in 1928 and is usually described as a coastal Karnataka idea that spread into Maharashtra. In Guwahati, at the other end of the country, the word is in use unchanged.
Nagarik Samabay Bank Ltd offers a scheme it calls a Pigmy Deposit, and its page states that the bank's authorised agent collects savings at the doorstep at regular intervals.
What the bank publishes
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.
On interest, the page refers to the rates in force under the Reserve Bank's directive and says interest is paid at maturity. That names an authority and a timing but not a figure, so a saver cannot learn the rate without asking at a branch.
Why the location matters
The geographic reach of daily collection is unmapped. 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 a different name, point the other way. Nobody publishes a national count of institutions running daily collection, and we are not going to invent an estimate. What the evidence supports is narrower: the two-state picture is too small.
Where the protection sits
Nagarik Samabay Bank, registered as a co-operative society on 23 October 1998 and trading since 12 May 1999, is listed in the DICGC insured-bank register updated on 8 September 2026. Our guide to the co-operative credit structure explains why a banking licence, rather than the word co-operative in a name, decides whether deposit insurance can apply.
What we could not establish
- How many Assam institutions run daily collection. We found one by direct search; there is no register of the practice.
- Whether Assam has any rule on agent commission like Maharashtra's.
- Whether the practice reaches other north-eastern states, which we have not examined.
Questions
- Is pigmy collection practised in Assam?
- Yes, and under that name. Nagarik Samabay Bank in Guwahati publishes a Pigmy Deposit scheme and states that the bank's authorised agent collects savings at the depositor's doorstep at regular intervals. The bank was registered as a co-operative society in October 1998 and is listed in the DICGC insured-bank register updated on 8 September 2026.
- How far does pigmy collection reach in India?
- Further than the usual account suggests, and nobody publishes a national count. We have found it under that name in Karnataka, Maharashtra and Assam, and under a different name in Telangana. Because the product is called different things in different places, any estimate built by searching for one word will understate it.