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Lower Economy People Benefit from Kisan Vikas Patrika Scheme

Lower Economy People Benefit from Kisan Vikas Patrika Scheme

In an announcement that would bring cheers to the fans of Kisan Vikas Patrikas, the small scale savings are now back in operations once again. Thousands of economically backward people had reaped the benefits of Kisan Vikas Patrika scheme, when it was first launched in the country. They were kept on hold for a while. They have resumed business once again with post offices all over the country, selling these instruments. The Kisan Vikas Patrika schemes are known for their safe returns, no attachments to risks and small investment requirements.

Many people prefer Kisan Vikas Patrika to fixed deposits, because the former offers a rate of return of 8.7% every year, which is quite high in the current small savings market. One of the main benefits of Kisan Vikas Patrika is that it gives assurance to the economically backward people that their investments would be doubled within 100 months (8 years and 4 months). The investors of this scheme belong to lower income groups; hence their first and foremost requirement from an investment scheme is safe and reasonable rate of return. KVPs satisfy the requirements of these small investors to a great extent.

During November 2014, the come-back of these KVPs was launched by the Finance Minister, Mr. Arun Jaitley. He urged small scale investors to prefer Kisan Vikas Patrika to fixed deposits and other savings schemes because, KVPs pooled in the money collected in the form of investments for rural development programs. He also said that the KVPs were re-launched in order to protect the economically backward people get attracted to fraudulent Ponzi schemes and lose their hard-earned money in these false schemes. KVPs can be bought by investors in denominations of 1000, 5000, 10000 and 50000INR. Currently only post offices sell these schemes. These services will be slowly extended to public sector banks for covering a wider range of customers.

Lower Economy People Benefit from Kisan Vikas Patrika Scheme

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