Kisan Vikas Patra (Amendment) Scheme, 2022

G.S.R. 837(E).—In exercise of the powers conferred by section 3A of the Government Savings Promotion Act, 1873 (5 of 1873), the Central Government hereby makes the following scheme further to amend the Kisan Vikas Patra Scheme, 2019, namely:—

1. Short title and commencement.—
   (1) This Scheme may be called the Kisan Vikas Patra (Amendment) Scheme, 2022.
   (2) It shall be deemed to have come into force on the 1st day of October, 2022.
   
2. In the Kisan Vikas Patra Scheme, 2019 (hereinafter referred to as the said Scheme), in paragraph 5,—
   
   a. in sub-paragraph (1A), for the words and figures, “on or after the 1st day of April, 2020”, the following words, figures and brackets “between 1st April, 2020 to 30th September, 2022 (both days inclusive)” shall be substituted;
   
   b. after sub-paragraph (1A), the following sub-paragraph shall be inserted, namely:—
   “(1B) The maturity period of an account opened on or after the 1st day of October, 2022 shall be ten years and three months.
   (IC) The deposits made in the account shall double on maturity.”.
   
3. In the said Scheme, in paragraph 6, in sub-paragraph (3),—
   a. in TABLE-2, for the words and figures, “on or after the 1st day of April, 2020”, the following words, figures and brackets “between 1st April, 2020 to 30th September, 2022 (both days inclusive)” shall be substituted;
   b. after TABLE-2, the following TABLE shall be inserted, namely:—

“TABLE-3
[Table showing premature closure value of account opened on or after 1st day of October with 1000 rupees]

Explanatory Memorandum.—The Kisan Vikas Patra (Amendment) Scheme, 2022 takes effect from the date as specified in the notification. However, no one shall be adversely affected as a result of retrospective effect being given to this amendment Scheme.

Note : The principal Scheme was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 920(E), dated the 12th December, 2019 and subsequently amended vide number G.S.R 283(E), dated the 5th May, 2020.

Notification

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