Kisan Vikas Patra savings double at maturity in nine years five months with specified premature-closure and transfer rules. Provides a government savings instrument where deposits double at a fixed maturity of nine years and five months, with account types (Single, Joint A, Joint B), a minimum deposit requirement and no maximum limit. Premature closure is restricted to specified events and yields repayment of principal plus simple interest or amounts set by a graduated table after two years six months. The Scheme allows pledging/transfer to prescribed entities with endorsed records, sets nominee/legal heir payment and continuation rules on death, and permits relaxation of provisions to avoid undue hardship.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Kisan Vikas Patra savings double at maturity in nine years five months with specified premature-closure and transfer rules.
Provides a government savings instrument where deposits double at a fixed maturity of nine years and five months, with account types (Single, Joint A, Joint B), a minimum deposit requirement and no maximum limit. Premature closure is restricted to specified events and yields repayment of principal plus simple interest or amounts set by a graduated table after two years six months. The Scheme allows pledging/transfer to prescribed entities with endorsed records, sets nominee/legal heir payment and continuation rules on death, and permits relaxation of provisions to avoid undue hardship.
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