Arun Jaitley launches Pradhan Mantri Vaya Vandana Yojana pension scheme with 8% fixed rate

Finance Minister Arun Jaitley formally launched Pradhan Mantri Vaya Vandana Yojana (PMVVY), a pension scheme exclusively for senior citizens with 8% fixed rate of interest on their savings.

Under this scheme, there will be an assured return of 8 per cent over a tenure of 10 years. It 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.

Important Takeaways from Above News-
  • Present chairman of LIC is V K Sharma.
Source- Business Today


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