Kisan Vikas Patra Quiz
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Topic: Kisan Vikas Patra
Number of Questions: 10
- In which year was the Kisan Vikas Patra Scheme first launched?
A) 1988
B) 1995
C) 2014
D) 2011
View answer
Option A
Explanation: India Post introduced the Kisan Vikas Patra as a small saving certificate scheme in 1988. Its primary objective is to encourage long-term financial discipline in people. It was discontinued in 2011 and again re-launched in 2014.
- Which entity launched Kisan Vikas Patra first in 1988?
A) SBI
B) RBI
C) India Post
D) Axis Bank
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Option C
Explanation: India Post introduced the Kisan Vikas Patra as a small saving certificate scheme in 1988.
- What is the minimum investment allowed in Kisan Vikas Patra?
A) Rs 1000
B) Rs 500
C) Rs 100
D) Rs 250
View answer
Option A
Explanation: KVP Certificates are available in the denominations of Rs 1000, Rs 5000, Rs 10,000 and Rs 50,000. KVP can be purchased from any Departmental Post office or authorised Bank branches.
- What is the maximum investment allowed in Kisan Vikas Patra?
A) Rs 50,000
B) Rs 1,00,000
C) Rs 10,00,000
D) No Such Limit
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Option D
Explanation: Minimum Limit: Rs 1,000/- Maximum Limit: No Upper Limit
- What is the maximum denomination for which KVP certificates are available?
A) Rs 10,000
B) Rs 20,000
C) Rs 50,000
D) Can be bought for any denomination
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Option C
Explanation: KVP Certificates are available in the denominations of Rs 1000, Rs 5000, Rs 10,000 and Rs 50,000. KVP can be purchased from any Departmental Post office or authorised Bank branches.
- What is the lock-in period in Kisan Vikas Patra?
A) 2 years
B) 2.5 years
C) 3 years
D) 5 years
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Option B
Explanation: Certificate can be en cash after 2 & 1/2 years from the date of issue. Full principle amount with interest will be paid.
- Which of the following is not a valid KVP certificate
A) Single Holder Certificate
B) Joint ‘A’ Type Certificate
C) Joint ‘B’ Type Certificate
D) Joint ‘C’ Type Certificate
- What is the minimum age to buy Kisan Vikas Patra Certificate?
A) 10 years
B) 18 years
C) 21 years
D) 12 years
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Option B
Explanation: An Indian, with 18 years of age (However, an Adult can purchase a Kisan Vikas Patra Certificate on behalf of a minor.)
- What is the interest rate in Kisan Vikas Patra?
A) 7.1%
B) 7.3%
C) 7.5%
D) 7.7%
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Option B
Explanation: 7.3%
- What is the maturity period for Kisan Vikas Patra?
A) 120 months
B) 110 months
C) 118 months
D) 112 months
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Option C
Explanation: The maturity period depends on the prevailing interest rate. At present rate of 7.3% the amount doubles in 118 months (9 years and 10 months).
