New 👉 Ask your RBI Grade B 2025 Preparation Queries Here!!

    Question

    The Pradhan Mantri Vaya Vandana Yojana (PMVVY) has been

    launched by the Government to protect elderly persons aged 60 years and above against a future fall in their interest income due to uncertain market conditions, as also to provide social security during old age. It is implemented through ___________.
    A State Governments Correct Answer Incorrect Answer
    B SBI Correct Answer Incorrect Answer
    C Consortium of PSBs and a few Privet Banks Correct Answer Incorrect Answer
    D Life Insurance Corporation of India (LIC) Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    The ‘Pradhan Mantri Vaya Vandana Yojana (PMVVY) has been launched by the Government to protect elderly persons aged 60 years and above against a future fall in their interest income due to uncertain market conditions, as also to provide social security during old age. The scheme is implemented through the Life Insurance Corporation of India (LIC) and open for subscription upto 31st March, 2023.

    Practice Next

    Relevant for Exams: