Kisan vikas patra was a very popular investment scheme amongst the investor which was discontinued wef 30. Finance in india, kisan vikas patra, post office savings. Arun jaitley has launched new kisan vikas patra kvp. In kisan vikas patra we have no limit on investment while in ppf we have maximum limit of 1. It was mentioned in a finance ministers budget speech also. Kisan vikas patra rules, 2014 national savings institute. The facility of e kisan vikas patra is also available with union bank of india and axis bank. Apr 18, 2016 post office kisan vikas patra is a great product and would have been ideal for poor people. May 03, 2018 finance minister, arun jaitley in 2015 launched kisan vikas patra. Kvb was launched in 1988 to encourage savings and financial discipline with a focus on farmers and hence the name.
Although it was successful since its inception, a committee set up by the government of india supervised by shayamla gopinath gave a recommendation that the kvp could be. May 03, 2020 kisan vikas patra latest breaking news, pictures, videos, and special reports from the economic times. The principal is assured guaranteed and it is deemed to be a safe avenue for investing your money kvp is suitable for an increase in investment as it. But since both these are very similar, one can get confused while choosing between the two. Although it was successful since its inception, a committee set up by the government of india supervised by shayamla gopinath gave a recommendation that the kvp could be misused.
Kisan vikas patra is a small saving scheme which aims. This scheme has been reintroduced from 2014 with an renewed interest rate of 8. Jan 14, 2020 the kisan vikas patra is a saving scheme that aims to double your money in 100 months, which will be 8 years and 4 months. How to invest in kisan vikas patra kisan vikas patra. Here are the full revised kisan vikas patra rules 2014 gsa 705e. For people in highest income tax bracket, it makes more sense to invest in debt mutual funds which are more tax efficient if investment horizon is for more than 3 years. See the complete profile on linkedin and discover vikas connections and jobs at similar companies. Apr, 2016 first launched in 1988, the kisan vikas patra kvp is one of the premier and popular saving scheme offering from the indian postal department. The key objectives of govt to relaunch kisan vikas patra are. Kvp can be purchased by an adult for self or on behalf of a minor, in a joint name, or by a trust.
To increase domestic savings, which fell to 30% of gross domestic product, or gdp, in 2012 from the peak of 36. Kisan vikas patra kvp kisan vikas patra is a saving scheme that was announced by the govt. You can also take the maturity amount from different post office or bank, but it will take time for the verification. Govt of india has launched new kisan vikas patra kvp last tuesday, 18th november, 2014. The kisan vikas patra was initially launched by india post in the year 1988. If the kisan vikas patra kvp is lost, stolen, destroyed, mutilated or defaced, the rightful owner of such kvp may apply for the issue of a duplicate kvp to the post master of post office, where the certificate is registered or issued. Kisan vikas patra kvp is a saving instrument that provides interest income similar to bonds. Kvp certificate shall be encashable at the post office of its issue, provided that a kvp certificate may be encashed at any other post office, if the officerincharge of that post office is satisfied on verification from the post office of issue that the person presenting the certificate. Kisan vikas patra kvp is a savings plan that was reintroduced on 18nov2014 by the government of india.
Kisan vikas patra kvp investments will continue to yield 7. Post office kisan vikas patra is a great product and would have been ideal for poor people. It is a fixed rate small savings scheme designed to double your investment after a predetermined period of time 1 months in the currently available issue. Kisan vikas patra latest breaking news, pictures, videos, and special reports from the economic times. This is to inform you that by clicking on the hyperlinkok, you will be accessing a website operated by a third party namely such links are provided only for the convenience of the client and axis bank does not control or endorse such websites, and is not. Kisan vikas patra is one such scheme from indian post office that doubles one time investment in a period of 96 months. This was because the farmers for whom it was intended was not getting benefited. Kisan vikas patra is a small saving scheme which aims to double your money in 100 months or 8 yrs 4 months. Kisan vikas patra is a certificate scheme that doubles a one time investment in a period of approximately 118 months. Depending on you how much amounts of kvp certificate you take, it is certain that your money will be doubled after 115 months. After buying kisan vikas patra, your money gets doubled in 115 months i.
The kisan vikas patra scheme was originally launched in april, 1988 but was discontinued in 2011. In exercise of the powers conferred by section 12 of the government saving certificates act, 1959 46 of 1959 and in suppression of the kisan vikas patra rules, 1988 except as respects things done or omitted to be done before such supersession, the central government. Kisan vikas patra rules, 2014 amended the dollar business. You should take the maturity amount from the same post office or bank, it was issued. In exercise of the powers conferred by section 12 of the government savings certificates act, 1959 46 of 1959 and in supersession of the kisan vikas patra rules, 1988 except as respects things done or omitted to be done before such supersession, the central government hereby makes the following rules. Nov 18, 2014 kisan vikas patra kvp a certificate savings scheme was launched by the government on 1st april, 1988. Bjp vows tax cuts, kisan sops, hard line on culture. Ekisan vikas patra scheme, 2014 government business other services personal bank of baroda, indias international bank. Kisan vikas patra yojna has been relaunched by government of india on 18th november,2014. Kisan vikas patra was popular among many rural indians but was earlier discontinued. Available to the investors in the denomination of rs. The kissan vikas patra gives you an interest rate of 8.
Government relaunches kisan vikas patra current affairs today. The kisan vikas patra scheme is a certificate deposit scheme which has been implemented by the government of india under the post office so that the farmers and the common citizens of the country can avail the benefit of long term investment. The government has kept the interest rate on small savings schemes such as ppf and kisan vikas patra unchanged for the januarymarch quarter, going against the expectations that the rates will be cut. Ekisan vikas patra scheme, 2014 government business. At your request, you are being redirected to a third party site. A duplicate certificate kisan vikas patra may be issued if the certificate is lost, stolen destroyed, mutilated or defaced, provided a satisfactory evidence is produced about such loss, theft, destruction, mutilation or defacement. Initially successful, it was later deemed to be a produc. The kisan vikas patra is a saving scheme that aims to double your money in 100 months, which will be 8 years and 4 months. The scheme can be accessed from any post office by a person who is above 18 years of age.
Kisan vikas patra and its related benefits bangalore buzz. The net return of people in highest income tax bracket will be approx 6. It was successful in the early months but afterwards the. Kisan vikas patra kvp is a savings scheme available at india post offices in the form of certificates. First launched in 1988, the kisan vikas patra kvp is one of the premier and popular saving scheme offering from the indian postal department. It was successful in the early months but afterwards the government of india set up a committee under supervision of shyamala gopinath which gave its recommendation to the government that kvp could be misused.
Complete guide to kisan vikas patra kvp types, transfer. In exercise of the powers conferred by section 12 of the government savings certificate act, 1959 46 of 1959, the central government hereby makes the following rules further to amend the kisan vikas patra rules, 2014, namely. Interest rate cut on kisan vikas patra the economic times. The reason is to provide flexibility to the customer. Kisan vikas patra simple english wikipedia, the free. In its new avatar, kisan vikas patra will double the money in 100 months i. Kisan vikas patra was very popular small saving instrument earlier, however, due to some reasons, this was discontinued. Since this scheme is from the central government, people can trust it. It doubles an investment in 1 months 9 years, 5 months.
Kisan vikas patra was relaunched recently and i was feeling quite nostalgic. Vikas patra itil v3 it project manager coinopsolutions. First congress government stopped the product, and then bjp government has reduced the interest rate from 8. It was discontinued briefly since 2011 and relaunched in 2014.
Interest rate on ppf, kisan vikas patra, other small. The scheme is designed to encourage longterm investment and savings amongst the. Kisan vikas patra blogs, comments and archive news on. Gross collections under the scheme in the year 201011 were rs. Just like any other savings certificate, the kisan vikas patra is a certificate that can be purchased from india post.
Kvps are sold at post offices and the certificate can be encashed after twoanda half years from the date of issue. Finance minister, arun jaitley in 2015 launched kisan vikas patra. Kisan vikas patra is a small savings instrument that will facilitate people to invest in a long term savings plan. On 18 th november 2014, union government relaunched kisan vikas patra scheme kvp in new delhi to encourage the habit of small savings among the citizens. Kisan vikas patra tax on interest income tax forum. This is a good saving scheme for those who are looking for. Nov 18, 2014 on 18 th november 2014, union government relaunched kisan vikas patra scheme kvp in new delhi to encourage the habit of small savings among the citizens. However, due to many incidents of misuse of kvp, the government closed this scheme in 2011. Kisan vikas patra is a saving scheme that was announced by the government of india that doubles the money invested in eight years and seven months. Sukanya samriddhi account scheme, scheme for the girl child, will continue to give out 8. Kisan vikas patra with the backup of indian government is trusted by people all over the country. The tax treatment of kisan vikas patra is similar to fd i. View vikas patra itil v3s profile on linkedin, the worlds largest professional community.
Hence the government of india decided to close this scheme and kvp was closed in 2011 and. The government offers the kisan vikas patra certificate in many denominations. The interest rate is not the best that you could get around and. Dec 23, 2014 kisan vikas patra was popular among many rural indians but was earlier discontinued. In 2014, the newlyelected modi government decided to reopen kvp. Ppf, kisan vikas patra hit for apriljune, these have been lowered by 0. It is a savings certificate scheme introduced by the department of post of india in 1988. August 28, 2015 kvp certificate shall be encashable at the post office of its issue, provided that a kvp certificate may be encashed at any other post office, if the officerincharge of that post office is satisfied on verification from the post office of issue that the person presenting the certificate. Nov 18, 2014 on 18th nov 2014, government of india relaunched one of famous postal savings scheme called kisan vikas patra or kvp. Nov 12, 2017 after buying kisan vikas patra, your money gets doubled in 115 months i.
Patrakvc, a post office savings instrument product that is being reintroduced after an. The kvps are measured as the most safe investment tool, as it has the backing of the government of india. On 18th nov 2014, government of india relaunched one of famous postal savings scheme called kisan vikas patra or kvp. Thereafter, investors can withdraw in any block of six months. Hence the government of india decided to close this scheme and kvp. The directorate of small savings government of india authorized our bank to sell these saving certificates. The scheme will soon be made available through designated branches of nationalized banks across the country. The scheme provided facility of unlimited investment by way of purchase of certificates from post offices in various denominations. Investment in kvp will get doubled in 100 months but no withdrawal can be made up to 2.
It is a fixed rate small savings scheme designed to double your investment after a predetermined period of time 124 months in the currently available issue. This article compares the features of national savings certificate nsc and kisan vikas patra kvp national savings certificate nsc and kisan vikas patra kvp are very popular investment avenues among investors seeking safety of capital. The directorate of small savings government of india, sells these saving bonds through all post off. Kisan vikas patra kvp investment will double in 100 months. Nov 27, 2014 govt of india has launched new kisan vikas patra kvp last tuesday, 18 th november, 2014. Kisan vikas patra kvp used to be a very popular savings instrument among small savers. Kisan vikas patras is a safe and long term investment option backed by the government of india which provides interest income similar to bonds. In exercise of the powers conferred by section 12 of the government savings certificates act, 1959 46 of 1959 and in supersession of the kisan vikas patra rules, 1988 except as respects things done or omitted to be done before such supersession, the central government hereby makes the following rules, namely. With no tax benefits on money invested as well as interest accrued, this scheme seems to lose its charm this time. Then the kisan vikas patra plan is just what you need.
Government relaunches kisan vikas patra current affairs. Please read and agree with the disclaimer before proceeding further. It is a popular investment instrument given that is of lowrisk and also guarantees assured returns. Kisan vikas patra kisan vikas patra india information. Kisan vikas patra rules 2014 notified by government. Kisan vikas patra kvp investment will double in 100. Get to know everything related to kisan vikas patra kvp including interest rates, features, main advantages and premature enchashment of. Some people have a misconception that only a farmer can invest money in kisan vikas patra.
Revamped kisan vikas patra was launched yesterday with annual yield of 8. No kyc for kisan vikas patra but interest payment to face tds. Kisan vikas patra is a saving certificate scheme which was first launched in 1988 by india post. Ekisan vikas patra scheme, 2014 government business other. How banks will pay commission to agents for kisan vikas patra department of economic affairs, ministry of finance, government of india has advised, vide office memorandum f. The reintroduction of kisan vikas patra kvp by the government of india will provide an opportunity for millions of people to invest in longterm savings plan. The postoffice kisan vikas patras kvps offers a fixed rate of interest, earlier at 8. Kisan vikas patra is a saving certificate which was first launched in 1988. Since this scheme is from the central government, people can trust it fully. It is to encourage people to save their money and not invest in fraudulent schemes.
This is provided in the form of a savings certificate where that amount that is invested will double in 100 months from then i. Finance kisan vikas patra is a saving certificate which was first launched in 1988. Kisan vikas patras kvps are available at all head post offices and authorized post offices throughout india. Yes, if you buy 50,000 kisan vikas patra, you will get one lakh after 115 months. The government will not insist on know your customer kyc guidelines on kisan vikas.