Chennai:
The KVP which was discontinued by the UPA government is all set to be
revived in a new avatar and is likely to be available in all the state
post offices from October 16.
Chief Post Master General T Murthy told reporters while celebrating
International Girl Child Day that they will be getting the
instructions on Kisan Vikas Patra soon.
KVP was very popular among small savers in rural India as it
guaranteed to double investment over a period of time despite no tax
benefits, Murthy said.
Interestingly, the scheme was discontinued The scheme was discontinued
from November 2011 based on recommendations of the Shyamala Gopinath
panel on small savings over apprehensions that it was used for money
laundering since it was a bearer instrument.
Murthy also said that the postal department in Tamil Nadu Circle is
planning to achieve a target of 5 lakh new bank accounts by the end of
Postal week Celebrations (October 15).
Interestingly, today was a mail day celebrations but the government
wanted it to be celebrated as International Girl Child Day. During the
event, girls who have opened bank account were presented with savings
book and also gifts. J T Venkateswarlu, director of postal services,
Chennai City region said that, “Till Friday 10,000 accounts were added
and we expect to reach 50,000 by Saturday night.”
On a whole, the postal department in the state has 2.25 lakh savings
accounts which is worth Rs 25,0000 crore
The KVP which was discontinued by the UPA government is all set to be
revived in a new avatar and is likely to be available in all the state
post offices from October 16.
Chief Post Master General T Murthy told reporters while celebrating
International Girl Child Day that they will be getting the
instructions on Kisan Vikas Patra soon.
KVP was very popular among small savers in rural India as it
guaranteed to double investment over a period of time despite no tax
benefits, Murthy said.
Interestingly, the scheme was discontinued The scheme was discontinued
from November 2011 based on recommendations of the Shyamala Gopinath
panel on small savings over apprehensions that it was used for money
laundering since it was a bearer instrument.
Murthy also said that the postal department in Tamil Nadu Circle is
planning to achieve a target of 5 lakh new bank accounts by the end of
Postal week Celebrations (October 15).
Interestingly, today was a mail day celebrations but the government
wanted it to be celebrated as International Girl Child Day. During the
event, girls who have opened bank account were presented with savings
book and also gifts. J T Venkateswarlu, director of postal services,
Chennai City region said that, “Till Friday 10,000 accounts were added
and we expect to reach 50,000 by Saturday night.”
On a whole, the postal department in the state has 2.25 lakh savings
accounts which is worth Rs 25,0000 crore
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