| The Government of India has decided to re-launch the Kisan Vikas Patra (KVP) a saving instrument that was discontinued three years ago, in the line with other continuing small saving scheme such as Public Provident Fund (PPF) and the National Saving Certificates (NSCs). Find out the incorrect statement about KVP. |
| 1. Launched under Government Saving Certificate Act, 1959. |
| 2. Interest rate in KVP is linked with CPI-rural inflation. |
| 3. Interest earned in Kisan Vikas Patra, automatically gets deposited to person's Jan Dhan Account. |
| 4. KVP doubles the money every 8 years and 4 months. |
| Select the correct answer using the codes given below. |
A) 1 and 2
B) 2 and 3
C) 1, 2 and 3
D) Only 3
Correct Answer: B
Solution :
[b] KVP launched under Government Saving Certificate Act 1959. Interest rate in KVP is 8.7%. KVP doubles the money every 100 months. Minimum lock-in period is two years and six months, and can be encashed in eight equal monthly instalments after the lock-in period.
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