Kisan Vikas Patra being used for terror funding

The Congress on Thursday said the Kisan Vikas Patra (KVP) savings scheme re-launched by the Modi government earlier this week was being used for terror funding.

The opposition party attacked Prime Minister Narendra Modi’s pet issue of black-money contending that the KVP scheme could be used to stash away ill-gotten wealth.

Quoting from a report submitted by a committee headed by Shyamala Gopinath, a RBI Deputy Governor AICC General Secretary Ajay Maken said the UPA government had discontinued KVP as it could be used for money laundering and terror financing purposes.

“We want to know why KVP, which helps in money laundering and funding terrorism, has been re-introduced. Why does the Modi government want to promote money laundering and terrorism,” Maken asked.

The Modi government had re-launched the KVP saying that it will provide trusted option of investment to the poor with an aim of keeping them away from ponzi schemes.

The Congress has objected to the provisions of multiple transfers of the KVP certificates and cash investments in the scheme without the necessity to quote the PAN number.

The Congress also accused Modi of taking a U-turn on most of the promises he had made during the Lok Sabha election campaign.