Millennium Post

Govt to relaunch Kisan Vikas Patra today

In view of popular demand, the government will relaunch saving instrument Kisan Vikas Patra (KVP) on Tuesday, wherein the invested money will get doubled in 8 years and 4 months. The KVP, which will be relaunched by Finance Minister Arun Jaitley, will be available in denominations of Rs 1,000; 5,000; 10,000 and 50,000. There will be no upper ceiling on investment.

‘Initially the certificates will be sold through post offices. But the same will soon be made available to the investing public through designated branches of PSBs,’ the Finance Ministry said. Investments in KVP will remain under lock-in for a period of 2.5 years and thereafter in any block of six months on pre-determined maturity value.
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