Varishtha Pension Bima Yojana (VPBY) 2017 with 8% guaranteed Pension: Things to know

Varishtha Pension Bima Yojana (VPBY) 2017 with 8% guaranteed Pension: Things to know

The Varishtha Pension Bima Yojana (VPBY) 2017, a scheme unannounced by the Prime Minster¬† Narendra Modi on new year eve was approved by the cabinet on Tuesday. Post demonetisation banks are slashing interest rate on fixed deposits. Therefore, to guard the interest of the senior citizens (above 60 years of age) in case of falling interest rates, PM Modi announced this scheme with a guaranteed interest of 8 per cent for 10 years The scheme will be launched by Life Insurance Corporation of India on April 1st as per sources….

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