Recently, the Department of Economic Affairs, Ministry of Finance has permitted all Public Sector Banks and eligible Private Sector Banks to implement and opoperationalizehe Mahila Samman Savings Certificate, 2023.
About Mahila Samman Savings Certificate (MSSC), 2023
- Announced in the 2023-24 Budget
Launched on March 31, 2023 (Operation since
April 1, 2023)
- Implemented by Department of Post
- The scheme is for women/girls
- The objective of the scheme is to empower women and promote their financial independence.
Key Features of the Scheme
- The scheme provides attractive and secured investment option to all girls and women.
- An account can be opened under this scheme on or before the March 31, 2025 for a tenure of two years.
- Minimum of Rs. 1000 and any sum in multiple of 100 may be deposited within the maximum limit of Rs. 200,000.
- Maturity of the investment under this scheme is two years from the date of opening of the account under the scheme.