Conclusion – Kisan Vikas Patra Scheme
Kisan Vikas Patra Scheme, also known as KVP, is a popular small-savings programme that is available in banks and Indian Post Offices in the form of certificates. It is a constructive programme that will aid in the financial inclusion of society’s most vulnerable and underprivileged groups. This programme aids in forming a long-term saving and investing habits among the nation’s population. To maintain the programme appealing, the government should keep the interest rate less volatile.
Kisan Vikas Patra Scheme
Kisan Vikas Patra Scheme: Kisan Vikas Patra Scheme (KVP) was launched in 1988, to assist poor, vulnerable, rural, and tribal families that lacked access to mainstream banking and financial systems. Farmers are referred to as Kisan in Hindi, whereas development is referred to as Vikas and certificates as Patra. The fact is that it was designed to assist farmers in saving money for the future. No distinction is made between participants from urban and rural regions under the scheme. It was successful in the beginning, but in 2011 it was abandoned as it may be used for money laundering. To address public demand and to resurrect little savings, the Finance Minister declared in 2014–15 that Kisan Vikas Patra (KVP) will be reinstated. This was reintroduced on November 18, 2014, with effect.
In this article, you will read about the Kisan Vikas Patra Scheme, its features, types, eligibility, maturity period, benefits, etc.
Table of Content
- What is Kisan Vikas Patra Scheme?
- Features of the Kisan Vikas Patra Scheme
- Kisan Vikas Patra Rate of Interest
- Types of Kisan Vikas Patra
- Eligibility of the Kisan Vikas Patra Scheme
- Maturity Period of Kisan Vikas Patra Scheme
- Benefits of Kisan Vikas Patra Scheme
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