The Ministry of Finance (MoF) on April 28, 2023, issued the Kisan Vikas Patra (Second Amendment) Scheme, 2019 to further amend the Kisan Vikas Patra Scheme, 2019.
The following has been amended namely: -
• In Paragraph 5(1D), for the words and figures, “on or after the 1st day of January, 2023”, the words, figures, and brackets “between 1st January, 2023 and 31st March, 2023 (both days inclusive)” shall be substituted
• The following sub-paragraph shall be inserted, under Paragraph 5 namely: -
“(1E) The maturity period of an account opened on or after the 1st day of April, 2023 shall be nine years and seven months and the deposits made in the account shall double on maturity.”
• In paragraph 6(3) in TABLE-4, for the words and figures, “on or after the 1st day of January, 2023”, the words, figures and brackets “between 1st January, 2023 and 31st March, 2023 (both days inclusive)” shall be substituted
• After TABLE-4, the following TABLE shall be inserted, namely: -
TABLE-5 states “Table showing premature closure value of account opened on or after 1st day of April, 2023 with 1000 rupees”
This shall come into force on April 01, 2023
[Notification No. G.S.R.324(E)]
