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Rs 6.2 Crores invested in Kisan Vikas Patra in Chennai
Posted on: 23/Jan/2015 11:56:50 AM
The Indian Postal Department has mentioned that Rs 6.2 Crores have been invested in the relaunched savings scheme Kisan Vikas Patra in the Chennai City region.
Kisan Vikas Patra was introduced by the Central Government in the year 1988. There was a great response amongst the people. The scheme which was successful for 23 years was withdrawn in the year 2011. The UPA government withdrew the scheme after criticism that it was being widely used to convert black money into white.
After three years BJP Government under the leadership of Narendra Modi has relaunched the Kisan Vikas Patra. Arun Jaitely, the Finance Minister launched the scheme on 18th November in Delhi. Kisan Vikas Patra was launched in Chennai on 19th November. Within 42 days of its launch, more than 7000 people have invested in this savings scheme. Mervin Alexander, postmaster general, Chennai city region while speaking said,”Certificates come in denominations of Rs 1,000, Rs 5,000, Rs 10,000 and Rs 50,000. After 8 years 4 months the investors will get double the amount they have invested. Those of who want the money before the maturity can claim only after 30 months. There is a great response for the scheme and daily 10 to 20 people come to the post office to invest in the scheme. So far 7,906 people have invested in Chennai City region post offices. The total value of their investment is Rs 6 Crores 2Lakhs and 55 thousands.”
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