Question
Identify the Scheme. It was launched in 2017 with an
aim to protect elderly persons aged 60 years and above against a future fall in their interest income due to the uncertain market conditions.Solution
The ‘Pradhan Mantri Vaya Vandana Yojana (PMVVY) has been launched by the Government to protect elderly persons aged 60 years and above against a future fall in their interest income due to uncertain market conditions, as also to provide social security during old age. The scheme is implemented through the Life Insurance Corporation of India (LIC) and open for subscription up to 31st March, 2023. There is no maximum entry age limit for the Scheme.
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