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Investment limit hiked for elderly
The Union Cabinet on Wednesday approved increasing the investment limit from ₹7.5 lakh to ₹15 lakh under the Pradhan Mantri Vaya Vandana Yojana (PMVVY), aimed at senior citizens.
It also extended the time limit for subscription from May 4, 2018 to March 31, 2020.
According to the government, 2.23 lakh senior citizens are availing of benefits under the PMVVY as of March 2018.