With interest rates softening and the economy running into a downspin, LIC had conveyed its inability to give 1 lakh on the initial investment. The government went through the issue, and in October the Cabinet decided to implement the Bhagyalakshmi scheme on the lines of the Centre’s Sukanya Samriddhi scheme, this time with the help of India Post.source https://economictimes.indiatimes.com/industry/banking/finance/insure/bhagyalakshmi-scheme-lic-seeks-continuity-as-karnataka-ropes-in-india-post/articleshow/79913571.cms
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