Sir,
The re-launch of KVPs is an excellent step towards saving money by economically weaker sections of society.
In order to get higher returns for their savings, many people have been duped of crores of rupees by chit fund companies run by dubious people. As a result many people committed suicide, and many people had to come on streets. The Finance Minister Arun Jaitley while re-launching the KVPs has rightly said that the people need to be careful from privately run Ponzi schemes which are both unsafe and risky.
The KVPs will ensure safety of poor man’s money, as it is earned after toiling hard. Besides, a poor does not know when and where to invest the hard-earned money, as a result, he comes under the influence of private investment companies.
The poor people need to be educated properly about the welfare schemes launched by the Gvernment(s) from time to time.
Yours etc….
Mukesh Mahajan
Jammu
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