The Prayatn

Government of India has announced to launch of 7.75% Savings (Taxable) Bonds, 2018 commencing from 10 th  January 2018 to enable resident citizens/HUF to invest in a  taxable bond , without any  monetary ceiling. The main features of the Bonds are: (i) Who can invest: The Bonds are open to investment by individuals (including Joint Holdings) and Hindu Undivided Families.  NRIs are not eligible for making investments in these Bonds. (ii) Subscription:  Applications for the Bonds in the form of Bond Ledger Account will be received in the designated branches of agency banks and SHCIL in all numbering about 1600. (iii) Issue Price:   The Bonds will be issued at par i.e. at Rs.100.00 The Bonds will be issued for a minimum amount of Rs.1,000/- (face value) and in multiples thereof. Accordingly, the issue price, will be Rs.1,000/- for every...

Pradhan Mantri Vaya Vandana Yojana (PMVVY), a pension scheme exclusively for senior citizens, has been launched. • The Scheme can be purchased offline as well as online through Life Insurance Corporation (LIC) of India which has been given the sole privilege to operate this Scheme. • ‘Pradhan Mantri Vaya Vandana Yojana (PMVVY)’ to provide social security during old age and to protect elderly persons aged 60 and above against a future fall in their interest income due to uncertain market conditions. • The scheme enables old age income security for senior citizens through provision of assured pension/return linked to the subscription amount based on government guarantee to Life Insurance Corporation of India (LIC). • The scheme provides an assured return of 8% per annum payable monthly (8.30% per annum for the annual option) for 10 years. The differential return, i.e. the difference be...

• Ujwal DISCOM Assurance Yojana (UDAY) was launched in November, 2015. • It allows state governments, which own the DISCOMS, to take over 75 percent of their debt as of September 30, 2015 (50% in FY 2015-16 and 25% in FY 2016-17), and pay back lenders by selling bonds. • States to issue non-SLR including SDL bonds, to take over debt and transfer the proceeds to DISCOMs in a mix of grant, loan, equity. • Maturity period of bonds - 10-15 years. • Moratorium period – up to 5 years. • Rate - G-sec plus 0.5% spread plus 0.25% spread for non-SLR. • Borrowing not to be included for calculating fiscal deficit of the State. • Balance 25% of debt to remain with the DISCOMs in the following manner: ○ Issued as State-backed DISCOM bonds; or ○ Re-priced by Banks/FIs at interest rate no...