Current Affairs - Persons - Discussion

Finance Minister Arun Jaitley launched a new pension scheme for the senior citizens, Pradhan Mantri Vaya Vandana Yojana, PMVVY in New Delhi. Pradhan Mantri Vaya Vandana Yojana (PMVVY) is a pension scheme announced by the government exclusively for the senior citizens aged 60 years and above which is available from May 4, 2017 to May 3, 2018. This scheme provides an assured return of 8 per cent per annum payable monthly (equivalent to 8.30 per cent per annum effective) for 10 years.s