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...