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Question

With reference to the Government Welfare Schemes Kisan Vikas Patra, consider the following statements:

1. The Kisan Vikas Patra was introduced by India Post in the year 1988.

2. KVP can be transferred from one person to another and from one post office to another.

3. Account can be opened only in Post offices and sub post offices.

Which of the statements given above is/are correct?

A 1 and 2 Correct Answer Incorrect Answer
B 1 and 3 Correct Answer Incorrect Answer
C 2 and 3 Correct Answer Incorrect Answer
D All of these Correct Answer Incorrect Answer
E None of these Correct Answer Incorrect Answer

Solution

The Kisan Vikas Patra was introduced by India Post in the year 1988. The scheme was closed in 2011 by the Government of India after a Government Committee suggested that this scheme can be misused for money laundering purposes. The Kisan Vikas Patra (KVP) was later relaunched in the year 2014. Account can be opened in Post offices and in authorised banks. KVP can be transferred from one person to another and from one post office to another. Minimum ₹ 1000/- and thereafter in multiples of ₹100. KVP can be transferred from one person to another and from one post office to another.

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