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    Question

    Under Pradhan Mantri Vaya Vandana Yojana (PMVVY) what is

    the minimum monthly purchase price?
    A Rs.1.5 lakh Correct Answer Incorrect Answer
    B Rs.1.59 lakh Correct Answer Incorrect Answer
    C Rs.1.62 lakh Correct Answer Incorrect Answer
    D Rs.1.75 lakh Correct Answer Incorrect Answer
    E Rs.2 lakh Correct Answer Incorrect Answer

    Solution

    PMVVY is a Pension Scheme announced by the Government of India exclusively for the senior citizens aged 60 years and above which is available from May 04, 2017 to March 31, 2023   

    Under this scheme an initial lump sum payment of any amount between Rs.1.5 lakh to Rs.15 lakh will entitle the individual for a monthly pension of Rs.1,000 per month to Rs.9,250 per month depending on the payment made. The details of maximum and minimum purchase price and pension is sumamrised below:  

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