- 16 June | Failed Before Success: AIR 295 Reveals His UPSC Journey | Click Here to Watch →
- 17 June | How to Write High-Scoring Answers in Hindi Literature Optional | Click Here to Watch →
- 18 June | From Setback to Success: Bhavika Chopra's Rise to AIR 25 | Click Here to Watch →
- 19 June | The Rankforge Challenge (FRC/Tapasya): Truth About UPSC & Coaching by Ayush Sinha | Click Here to Watch →
- 20 June | 150+ Cleared UPSC Prelims from Naugaon, Alwar | The FRC Tapasya Success Story | Click Here to Watch →
Contents
Source: The post is based on the article “Women get a one-time small savings scheme” published in The Hindu on 2nd February 2023.
What is the News?
In the Union Budget 2023-24, the Finance Minister has announced a new small savings scheme for women called Mahila Samman Saving Certificate(MSSC).
What is a Mahila Samman Saving Certificate(MSSC)?
It is a one time small saving scheme for women.
Key Features of the scheme:
The scheme will be made available for a two-year period up to March 2025.
It will have a fixed interest rate of 7.5% for two years.
The deposit can be made in the name of a woman or a girl child.
The maximum deposit amount has been kept at ₹2 lahks and the scheme will have a partial withdrawal facility as well.
Significance of the scheme: Mahila Samman Savings Certificate with a higher rate of interest will encourage more women to adopt formal financial saving instruments.
