Questions related to Kisan Vikas Patra for Bank Exams

Friends.. As you might have noticed in the recent Bank/Insurance Exams, in every shift one question related to Kisan Vikas Patra (KVP) was asked. Hence, in this post we are sharing with you some probable questions related to KVP which will be useful in the upcoming exams.

1) Union government on which date relaunched the erstwhile popular small savings instrument Kisan Vikas Patra (KVP) to encourage people to save more and keep them off fraudulent schemes? - November 18, 2014

2) Amount invested in Kisan Vikas Patra would get doubled in? - 100 months or eight years and four months

3) Will the investors get any tax benefit for their investment in Kisan Vikas Patra? - No

4) Kisan Vikas Patra certificates would be available in the denominations of? - Rs 1,000, 5,000, 10,000 and 50,000

5) What is the upper limit on investment in KVPs? - No upper limit

6) Kisan Vikas Patra certificates can be encashed after a lock-in period of? - 30 months or 2 years and 6 months

7) Kisan Vikas Patra certificates can be issued jointly? - Yes, it can be issued in single or joint names.

8) Whether KVP can be transferred from one person to any other person/persons? - Yes & multiple times also possible.

9) Is nomination facility available for KVP? - Yes.  The facility of transfer from one post office to another anywhere in India is also permitted.

10) Can Kisan Vikas Patra certificates be pledged as security to avail loans from the banks? - Yes

11) Kisan Vikas Patra savings scheme was originally launched in which year? – 1^st April 1988

12) What was the maturity period of the earlier KVP scheme when it was launched? - 5 years and six months

13) In which year earlier KVP was discontinued? - 2011

14) Why was the earlier KVP discontinued by UPA government? - Following the Shyamala Gopinath Committee report which suggested that KVPs may be discontinued as they are prone to misuse.