RBI asks banks to furnish progress report on KVP, Sukanya A/c

To expedite Kisan Vikas Patra and Sukanya Samriddhi Account, RBI on Thursday again asked banks to furnish region-wise weekly progress report on the schemes.

Earlier in February, the central bank had asked banks to expedite the implementation of the two schemes.

"The Government has desired to have a bank-wise and region-wise weekly progress report on implementation of Sukanya Samriddhi Account.

"Accordingly, all agency banks implementing the scheme are advised to furnish region-wise weekly progress report indicating the number of Sukanya Samriddhi Accounts opened," RBI said in a notification.

RBI said agency commission will be paid to the authorised banks for handling the work relating to these schemes.

The government in November had relaunched the popular small savings instrument Kisan Vikas Patra (KVP) to encourage people to save more and keep them off fraudulent schemes.

While, the Sukanya Samridhi Account which was launched in January to promote the girl child is a small deposit scheme as part of the 'Beti Bachao Beti Padhao' campaign, which would fetch an interest rate of 9.1% and provide income tax rebate.

It can be opened at any time from the birth of a girl child till she attains the age of 10 years, with a minimum deposit of Rs 1,000. A maximum of Rs 1.5 lakh can be deposited during the financial year.