Arun Jaitley launches ‘Kisan Vikas Patra’ to lure small investors
New Delhi, Nov 18 (ANI): Finance Minister Arun Jaitley on Tuesday re-launched a certificate savings scheme in New Delhi to encourage investment for country’s development. In a bid to encourage small savings among citizens, the successful scheme known as ‘Kisan Vikas Patra (KVP)’ or Farmer’s Development Letter was re-launched. KVP are certificates issued by government of India that can be availed in the denominations of rupees 500, rupees 1,000, rupees 5,000 and rupees 10,000 at all post offices across India. Jaitley said that this scheme was intended to keep small investors away from fraudulent schemes that make attractive bids. Meanwhile, the investment made in the certificate scheme will double in 100 months and certificates can be issued in single or joint names and is transferable. The certificate can also be pledged as security to avail loans from the banks.
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