In a move that is sure to be welcomed by senior citizens, the Union Cabinet has approved doubling of the investment limit in the Pradhan Mantri Vaya Vandana Yojana (PMVVY) from Rs 750,000 to Rs 1.5 million. It has also extended the last date for subscribing to the scheme till March 31, 2020.
The scheme was earlier scheduled to close on May 4. Here's a look at the pros and cons of this scheme vis-a-vis some of the other fixed-income options that can offer a regular income to retirees: Senior Citizens Savings Scheme (SCSS), Post Office Monthly Income Scheme (POMIS) and fixed deposits ...
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First Published: Thu, May 10 2018. 19:55 IST
