Question
Consider the following Statements and choose the option
with correct Statements. I- Pradhan Mantri Vaya Vandana Yojana (PMVVY) was launched in 2020 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. II- This is a scheme offered by the Life insurance Corporation (LIC) of India gives a guaranteed pay out of pension at a specified rate for 10 years. III- If the pensioner dies during the policy term of 10 years, the purchase price of the annuity scheme will be refunded to the beneficiary.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. Benefits Maturity benefit: If the pensioner survives till the end of the policy term of 10 years, purchase price of the annuity along with final pension instalment will be payable to the policyholder. Death benefit: If the pensioner dies during the policy term of 10 years, the purchase price of the annuity scheme will be refunded to the beneficiary.
Which entity was recently fined by the Reserve Bank of India for violating payment and KYC regulations, as announced in July 2024?
A) Manappuram ...
The Oilfields (Regulation and Development) Amendment Bill, 2024, was introduced in the:
Which country was elected to chair the UN Commission on the Status of Women (CSW) despite criticisms of its women's rights record?
What significant decision did the Indian Air Force (IAF) recently make regarding the Astra Mk-1 missile?
What is the amount of the loan approved by the World Bank to India for developing the low-carbon energy sector?
Under the PM Awas Yojana (Urban), which of the following components specifically targets the provision of houses to the Economically Weaker Sections (EW...
Who held a meeting with a Russian delegation led by H.E. Mr. Denis Gribov, Deputy Minister of Education of the Russian Federation, on collaboration in t...
What is the primary objective of the partnership between the Bureau of Indian Standards (BIS) and Govind Ballabh Pant University of Agriculture and Tech...
The publication "Women and Men in India 2023" highlights significant trends in gender equality. According to the report, what is the expected sex ratio ...
Which entity partnered with the National Film Development Corporation in July 2024 to launch "The Voicebox," a training program for voice-over artists i...