The government has re-launched Kisan Vikas Patra scheme in New Delhi to encourage the habit of small savings among the citizens. The scheme will provide facility of unlimited investment by way of purchase of certificate from post office in various denominations.

Initially the certificates will be provided through post offices but it will soon be made available through designated branches of nationalized banks all across the country. Our correspondent reports the scheme was relaunched by the Finance Minister Arun Jaitley along with the Communication and IT Minister Ravi Shankar Prasad.

Under the scheme Investors will be able to double their money in 100 months. During the launch, Finance Minister said it will help poor, gullible investors to channelise their savings towards trusted government schemes instead of some ponzi schemes.

The certificates, will be transferable and initially issued by post offices and later they will also be made available through nationalised banks. The re-launch of Kisan Vikas Patra will not only provide safe and secure investment avenues to the small investors but it will also help in augmenting the savings rate in the country.