Pradhan Mantri Vaya Vandana Yojna (PM VV Yojna) is to last till March 31st when the financial year 2017 -18 will ends, but the response to this Yojna continues to be most tepid in the district, said sources.
Chief manager of lIC Daltonganj, Om Prakash Pathak, said, “Till date only 28 annuitants/ purchasers (an annuitant is one who will draw the monthly annuity and the purchaser is one who buys this Yojna after paying the single premium) have taken PM Vaya Vandana Yojna which is a very useful Yojna for the pensioners who are not to visit lIC office for yearly or half yearly payment of premium. This Yojna is a single down payment with one premium to be paid through bank cheque, thus it saves pensioners or person having the age of 60 and above many inconveniences and their precious time.”
He further clarified that a purchaser may be the annuitant also and annuitant and purchaser may be two different persons as well.
On being asked as to why this poor response to the scheme he said, “Our agents of policies of lIC have their own interests to serve and as such this PM’s Yojna remains not a favourite with the agents.”
Sources said nationwide this PM V V Yojna has not been as vigorously publicised as PM Awas Yojna Gramin or PM Ujjawala Yojna which are a roaring success. Further the single payment for this Yojna for 10 years is a whopping Rs 7.5 lakh which many want to avoid. PM V V Y is a Government subsidised Yojna said assistant branch manager of lIC Rajiv Kumar. According to Rajiv Kumar the total investment in this PM VVY is Rs 1.62 crore so far.
Saras Jain a noted chartered accountant said, “This PM Yojna upholds the dignity of living of people having attained the age of 60 and above as a pension worth 5,000 rupees will be credited to the annuitant/purchaser for ten years every month and on maturity the principal sum will again revert to the annuitant/purchaser also.” Jain said, “This Yojna shows the prime concern of PM Narender Modi and his Government to ensure that senior citizens who face low rate of interest on their hard earned savings in the banks be financially protected by this scheme but this is true there are not many takers as this Yojna is to be wound up after this financial year.