Page 16 - Digi Page - General Awareness - Dec, 2015
P. 16
www.bankersguru.org
(General Awareness)
Kisan vikas patra
€
€
€ Kisan Vikas Patra is a saving certificate scheme which was first launched in 1988 by India
Post.
€ By the Recommendations of Shyamla Gopinath Committee, the scheme was discontinued
in Nov,2011.
€ On 18th November 2014, Union Government re-launched Kisan Vikas Patra scheme
Features –
€ Investor’s rIsk
€ No Risk as it has been backed by the government of india.
€ Investment
€ The KVP will be available to the investors in the denomination of 1000, 5000, 10000 and
50000 rupees with no upper limit on investment.
€ The Minimum Investment is rs. 500.
€ Rate of return
€ A rate of 8% per annum is offered at present.
€ The interest on KVP is compounded half-yearly.
€ However, with an effective rate of return of 8.41% p.a.
€ KVP does not safeguard one’s investment against high inflation
€ Lock-In Period
€ Minimum Lock-in period is 2 years and 6 months and thereafter in any block of six months
on pre-determined maturity value.
€ The amount invested would double in 100 months.(8 years and 4 Months).
€ Taxability:
€ No tax benefits for amount invested as well as interest income earned.
€ Other Features :
€ KVP is sold at face value; the maturity value is printed on the Certificate
€ KVP is transferrable
€ KVPs are encashable only at the issuing Post Office.
€ KVP is held physically in the form of a certificate that is issued to the investors by the post
office.
€ The option of holding KVP in demat form is not available yet.
Date of Release – 30-Dec-15 SUBJECT: GA www.bankersguru.org
(General Awareness)
Kisan vikas patra
€
€
€ Kisan Vikas Patra is a saving certificate scheme which was first launched in 1988 by India
Post.
€ By the Recommendations of Shyamla Gopinath Committee, the scheme was discontinued
in Nov,2011.
€ On 18th November 2014, Union Government re-launched Kisan Vikas Patra scheme
Features –
€ Investor’s rIsk
€ No Risk as it has been backed by the government of india.
€ Investment
€ The KVP will be available to the investors in the denomination of 1000, 5000, 10000 and
50000 rupees with no upper limit on investment.
€ The Minimum Investment is rs. 500.
€ Rate of return
€ A rate of 8% per annum is offered at present.
€ The interest on KVP is compounded half-yearly.
€ However, with an effective rate of return of 8.41% p.a.
€ KVP does not safeguard one’s investment against high inflation
€ Lock-In Period
€ Minimum Lock-in period is 2 years and 6 months and thereafter in any block of six months
on pre-determined maturity value.
€ The amount invested would double in 100 months.(8 years and 4 Months).
€ Taxability:
€ No tax benefits for amount invested as well as interest income earned.
€ Other Features :
€ KVP is sold at face value; the maturity value is printed on the Certificate
€ KVP is transferrable
€ KVPs are encashable only at the issuing Post Office.
€ KVP is held physically in the form of a certificate that is issued to the investors by the post
office.
€ The option of holding KVP in demat form is not available yet.
Date of Release – 30-Dec-15 SUBJECT: GA www.bankersguru.org
