PMVVY scheme gets extended at a reduced interest rate

Pradhan Mantri Vaya Vandana Yojana (PMVVY), a government-backed pension scheme, has been extended for another three years until March 31, 2023. Initially, in 2017, the scheme was available for around a year. Later, it got extended until March 31, 2020. Being operated by LIC, the scheme stopped accepting fresh subscription from April 1, as there was no intimation from the government about its extension. Nevertheless, in a press release dated May 20, 2020,