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Similar to other kinds of savings certificate, <keyword id="162207" type="PERSON" weightage="20" keywordseo="Kisan-Vikas-Patra">Kisan Vikas Patra</keyword> can be described as a certificate purchased from India Post. Issued in the form of Savings Certificate, the amount invested in Kisan Vikas Patra will double in 100 months understood otherwise as 8 years 4 months. Earlier the Kisan Vikas Patra was launched by the India Post in 1988. This scheme was highly successful right from its inception. However, when a committee instituted by the government suggested that this scheme could be misused. Hence the government closed the scheme in 2011. The new government that formed in 2014 decided to re-launch Kisan Vikas Patra in 2014. One can purchase a Kisan Vikas Patra from a Post Office. The minimum amount that can be deposited in the scheme is Rs 1,000. There is no upper limit for the amount that can be deposited. An adult can purchase the certificate for himself or on behalf of a minor. Two or more adults can also purchase it jointly. The minimum period after which the Kisan Vikas Patra can be encashed is 2 and a half years. Kisan Vikas Patra Features and Benefits Long term Savings The Kisan Vikas Patra enables individuals save early with an amount as low as Rs 1,000. There is no upper limit for investing in Kisan Vikas Patra. The value invested in Kisan Vikas Patra will double in 100 months which is equivalent to 8 years and 4 months. Total security The tallest concern of every investor is the security of the investment made. Since the Kisan Vikas Patra is a government owned scheme, the returns are fixed and fully secure. Because the amount the individual will get on maturity is declared on the certificate itself, the individual can be assured that they can get the amount at the end of the term. Fixed interest rate The interest rate as per the Kisan Vikas Patra is fixed on the amount invested. This is a kind of government bond and hence it is completely secure. The individuals investing on it are assured of the doubling of the principal amount in a matter of 100 months. Loan collateral Kisan Vikas Patra can also be used as a collateral for availing of loans. It is accepted as a valid collateral by majority of banks and financial institutions for the purpose of issuing a loan. Non-Transferable The Kisan Vikas Patra benefits can be availed of only by the Kisan Vikas Patra certificate holder. If it has to be transferred in other person’s name, it can be done only if the postmaster permits it based on some formalities to be complied with. Tax benefits When the certificate holder wishes to encash the Kisan Vikas Patra, tax is not deducted at source. The disbursal of any amount on the certificate is fully tax exempted. The certificate holder must take the responsibility to pay the taxes applicable on the interest accrued over the term of the scheme. The amount invested in this scheme is completely exempted from wealth tax. Fixed Lock-in Period Kisan Vikas Patra comes with a fixed lock-in-period of two and a half years. If the certificate holder has any emergency needs, the money can be encashed after two and a half years along with the interest applicable for the period.

This popular savings scheme from India Post can double an individual’s investment in 100 months

New Delhi, Feb 24 () Prime Minister Narendra Modi on February 29 will celebrate one year of implementation of the government's ambitious PM-Kisan scheme in Chitrakoot district of Uttar Pradesh, Agriculture Minister Narendra Singh Tomar said on Monday. Just before the general elections, Modi had launched the Pradhan Mantri Kisan Samman Nidhi (PM-Kisan) on February 24, 2019 in Gorakhpur. Under the scheme, the central government aims to provide Rs 6,000 per year in three equal instalments to 14 crore farmers. At present, all states except West Bengal are implementing the scheme. So far, 9.74 crore farmers are registered under the scheme, of which 8.45 crore farmers have received the payment so far after the data verification by state governments, according to the official data. "The one year completion of the implementation of the PM-Kisan will be celebrated at Chitrakoot in Uttar Pradesh on February 29. The Prime Minister on the occasion will distribute Kisan Credit Cards (KCC) to the beneficiaries of the PM-Kisan," Tomar said at the launch of a mobile app on PM-Kisan. Banks at district level will distribute the credit cards to PM-Kisan beneficiaries on that day, he said, adding that farmers can avail short term loan using these cards. The Prime Minister will also unveil setting up of 10,000 farmers producers companies (FPOs) announced in the budget. The Centre will provide fund of Rs 15 lakh to each FPO, he added. The minister said the government has taken several steps for achieving the target of doubling farmers income by 2022. The launch of PM-Kisan, ensuring credit and empowering farmers to pool together to form a company for better realisation - all these are step towards increasing farmers income. LUX MRMR

PM to celebrate one year of PM-Kisan in UP on Feb 29

New Delhi, Jun 16 () Jai Kisan, a Mumbai-based fintech platform, on Tuesday said it has raised Rs 30 crore funding from Arkam Ventures with participation of a fund backed by NABARD. Founded by Arjun Ahluwalia and Adriel Maniego – graduates of Texas A&amp;M University - who quit their jobs in private equity and restructuring firm, respectively, to move to India, Jai Kisan is a fintech platform for rural emerging markets that facilitates a suite of financial products to rural customers. In a statement, the platform said it has "closed a Rs 30 crore Pre-Series A round of funding led by Arkam Ventures (previously known as Unitary Helion) with participation from NABVENTURES Fund I (backed by NABARD)". Jai Kisan is NABVENTURES' first investment. "The fresh round of fundraising saw participation from existing investors including Blume, Prophetic Ventures and Better Capital. The round also saw participation from prominent leaders in finance and agri like an affiliate of The Chatterjee Group (TCG), Rajiv Sahney (New Vernon Capital), Sanjay Mariwala (Omniactive) and others," it said. Over the past 6 months, Jai Kisan has disbursed over Rs 50 crore in loans of top tier credit quality to a diverse set of 5,500-plus borrowers from various income groups across 10 states. Jai Kisan's financial products and robust technology platform is able to onboard a diverse set of borrowers varying from a lady farmer with minimal documentation in a tribal village with no electricity in the Nilgiris to a large grape producer and exporter in Nashik. "Adriel and I started Jai Kisan to facilitate rightly priced credit (and other financial services) to rural borrowers. "It didn't make sense to us that a poor woman borrower in the middle of nowhere is expected to generate over 24 per cent IRR on a small 50K type loan – (and that too from a formal lender!), while in our previous jobs (private equity) we were expected to generate a meagre 12 per cent IRR," said Arjun Ahluwalia, Co-Founder and CEO of Jai Kisan. Today, Jai Kisan provides cheap financing options for equipment, input and invoice financing for rural borrowers accessible at their fingertips or at any of Jai Kisan's partners' tech enabled locations. G R Chintala, Chairman, NABARD, remarked, "We appreciate the efforts of Jai Kisan to emerge as a frontline agri/rural fintech player on the strength of its tech prowess, low cost of operations along with reasonable security levels". ANZ BAL

Rural Fintech startup Jai Kisan raises Rs 30 cr from NABARD-back fund, others

Bengaluru, Drone manufacturer <keyword id="4610420" type="General" weightage="20" keywordseo="Garuda-Aerospace" source="Orion">Garuda Aerospace</keyword> said on Tuesday it has secured an order of 400 Agri Kisan Drones from Indian Farmers Fertilizer Cooperative Limited (<keyword id="74204" type="General" weightage="20" keywordseo="iffco" source="Orion">IFFCO</keyword>). This takes Garuda <keyword id="84758" type="General" weightage="20" keywordseo="aerospace" source="Orion">Aerospace</keyword>'s order book tally to 10,000 drones for this year within the first three months, it said in a statement. "The collaboration between Garuda Aerospace and IFFCO aims to revolutionise the agricultural sector by introducing the Garuda Kisan Drone at the 'IFFCO Drone Yatra' in Karnataka. These state-of-the-art drones will enable farmers to utilise Nano Urea spraying through Precision Agriculture Drones, maximising their efficiency and productivity," it said. According to the statement, IFFCO has launched a nationwide campaign to procure 2,500 'Kisan Drones' as spray solutions for their products -- Nano Urea and Nano DAP. This initiative not only supports the development of around 5,000 rural entrepreneurs trained in drone spraying but also promotes sustainable agriculture and holistic cooperative development, it said.

Garuda Aerospace bags 400 Agri Kisan drone orders from IFFCO

New Delhi, Mar 26 () To provide relief to farmers affected due to the lockdown, the Centre on Thursday said it will transfer in the first week of April the first installment of Rs 2,000 to each of 8.69 crore beneficiaries under the PM-KISAN scheme.Announcing the relief measures within 36 hours of nationwide lockdown, Finance Minister Nirmala Sithraman said: "Farmers receive Rs 6,000 annual from PM-KISAN. We will now be giving the first installment of that as a front-loaded matter, so that at the beginning of the year they will get Rs 2,000".This will benefit immediately 8.69 crore farmers who feed 1.3 billion population, she added.Under the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme, the Centre transfers an amount of Rs 6,000 per year, in three equal instalments, directly into the bank accounts of the farmers, subject to certain exclusion criteria relating to higher income status. LUX BALBAL

Govt to transfer Rs 2,000 under PM-KISAN scheme to 8.69 cr farmers in April 1st week

New Delhi, Feb 24 () The Union Agriculture Minister Narendra Singh Tomar on Monday asked the West Bengal government to join the ambitious central scheme, PM-Kisan, which completed one year of operation without the state on board. Barring West Bengal, all other states and union territories are implementing the Pradhan Mantri Kisan Samman Nidhi (PM-Kisan) which has benefited 8.45 crore farmers so far in the country, against the target of 14 crore farmers. The minister also launched PM-Kisan mobile App on completion of one year of the implementation of the scheme. Tomar said: "West Bengal has not yet joined the scheme. There are 70 lakh farmers in the state. Benefits worth about Rs 4,000 crore will reach to these farmers if implemented." Of the 70 lakh farmers from the state, about 10 lakh farmers have already self-registered for the scheme via the online portal of PM-Kisan, he said and added the cash benefit to these farmers will reach once the state government verifies the data. Stating that the cash benefit under the scheme will not only help farmers but also boost the state economy, Tomar said: "Our officials have approached the state government in this regard many times. I have also written twice to the chief minister urging to join the scheme. But no reply has come yet from the CM." Tomar said some states like Andhra Pradesh, Bihar and Sikkim are slow in authenticating their farmers' data and the central government is pursuing with them seriously. The aim is to achieve the target of 14 crore farmers by next year. On PM-Kisan portal, the centre has received data of total 9.74 crore farmers. Already, payment has been made to 8.45 crore farmers, he said. About 85 per cent of the farmers data registered under the scheme has been Aadhar verified, the rest will be completed soon, he added. Under the scheme, the centre is paying Rs 6,000 annually in three equal installments to eligible farmers. LUX DRRDRR

Centre appeals WB govt to join PM-Kisan scheme

The government will relaunch the <keyword id="162207" type="UNKNOWN" weightage="100" keywordseo="Kisan-Vikas-Patra">Kisan Vikas Patra</keyword> (<keyword id="52548" type="ORGANIZATION" weightage="100" keywordseo="KVP">KVP</keyword>) scheme today (Tuesday) to keep investors away from gold. The government has also introduced some new features to increase savings that fell to 7.1% of the GDP in FY2012-13 from over 12% in FY2009-10. Investors’ money will be doubled in 100 months and there won’t be any upper limit on investment. However, there will be a minimum denomination of Rs 1,000. 
 "Kisan Vikas Patra was a popular instrument among small savers. I plan to reintroduce the instrument to encourage people... to invest in this instrument," Finance Minister <keyword id="42575" type="PERSON" weightage="60" keywordseo="Arun-Jaitley">Arun Jaitley</keyword> had said in his Budget speech in July. The UPA government had closed this scheme in 2011. 
 
"The Kisan Vikas Patra scheme will safeguard small investors from fraudulent schemes. Re-launched KVP will be available to investors in denominations of Rs 1,000, Rs 5,000, Rs 10,000 and Rs 50,000, with no ceiling on investment," the Finance Ministry said in a statement. 
 
The KVP certificates can be bought in an individual’s name or joint names, and can also be transferred from one person to another or from one post office to another. 
 
"With a maturity period of eight years and four months, the collections under the scheme will be available with the government for a fairly long period to be utilised in financing developmental plans of the Centre and state governments and will also help in enhancing domestic household financial savings in the country," the ministry added.

You Searched For "Kisan" and got 7 results

This popular savings scheme from India Post can double an individual’s investment in 100 months

BI India Bureau

PM to celebrate one year of PM-Kisan in UP on Feb 29

PTI

Rural Fintech startup Jai Kisan raises Rs 30 cr from NABARD-back fund, others

PTI

Garuda Aerospace bags 400 Agri Kisan drone orders from IFFCO

PTI

Govt to transfer Rs 2,000 under PM-KISAN scheme to 8.69 cr farmers in April 1st week

PTI

Centre appeals WB govt to join PM-Kisan scheme

PTI

Indian Govt To Relaunch Kisan Vikas Patra Today, With Some New Features

BI India Bureau

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