31st of October every year is observed in many countries as the World Thrift Day. On this day, savings institutions and workers revive their faith in the ideal of thrift as a step to human happiness. The origin of this innovation goes to the year 1924. In that year, the International Savings Bank Congress held in Milan, proclaimed the last day of the meet, 31st October to be observed as World Thrift Day. The resolution, among other things, emphasised the practice and propaganda of saving, and that 31st October would be specially devoted to the promotion of thrift from an International standpoint. The significance of the World Thrift day is that it provides a unique opportunity to strengthen the ties with the public. It is a day on which the savings banks stand in full light of publicity, when young and old hurry, to the savings banks in order to take part in the festivities. World Thrift Day provides an opportunity to impress on the entire saving bank staff the importance of the task of rendering service to the public. In India, the National Savings Organisation has been closely associated with the activities of the World Thrift Day.
The Posts and Telegraphs Department plays an important role in promoting habits of thrift and was associated with the world wide celebrations of the World Thrift Day by bringing out this special commemorative stamp.
The stamp depicts a picture of the Globe and a saving box in the middle with two hands each holding a coin.
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