Indra vikas patra

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

27 December 2012 Hi There,

Years ago POST OFFICES had Indra Vikas Patra. Where your money would double after 5 years.

Can anyone tell me which year this scheme started and which year this scheme ended.

I have googled alot but there is info only about Kisan Vikas Patra. And only available info is Indra Vikas Patra scheme is now closed. But I want to know which year this scheme closed/withdrawn. If the 5 year double amount was not called indra vikas patra. Then can you please tell which year the 5 years double money scheme closed.

Thanks alot

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

27 December 2012 https://www.indiapost.gov.in/Pdf/Manuals/POSB_Manual_Vol-I.pdf
Follow this.
The scheme was criticised mainly on account of its BEARER kind of deposits. No KYC norms were in vogue in those days.

Querist : Anonymous

Querist : Anonymous (Querist)

28 December 2012 Thanks Amolji.

I have seen this doc earlier but it doesnot clearly say from which day or month the 5 years double money scheme has been closed.

I am very particularly looking for when has the 5 yr double money scheme closed. I need this for my family dispute money.

Aashok Kumar Sharma

Aashok Kumar Sharma (Expert)
Follow

01 August 2024 The **Indira Vikas Patra (IVP)** was a savings scheme introduced by the Indian government to encourage long-term savings. Here's a summary of its history:

### **Indira Vikas Patra (IVP) Scheme Details:**

- **Introduction**: The Indira Vikas Patra scheme was introduced in **1986**.

- **Doubling Period**: Under this scheme, investments were designed to double in value over a period of 5 years.

- **Closure**: The Indira Vikas Patra scheme was discontinued in **1999**.

### **Historical Context:**

- **Kisan Vikas Patra (KVP)**: The Kisan Vikas Patra was introduced in **1988** and, like the Indira Vikas Patra, it was also a scheme for doubling the investment amount in a specified period (typically 8 years and 7 months). Unlike the IVP, the KVP scheme continues to be available in various forms.

### **Summary:**

- **Start Year**: 1986
- **End Year**: 1999

The scheme was phased out, and investors were encouraged to look into other available government savings schemes or fixed deposit options for their investment needs.

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

03 August 2024 The Indira Vikas Patra scheme was introduced in the year 1986

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now