Mahila Samman Saving Certificate: India encourages women to increase savings. Know everything about it
Mahila Samman Saving Certificate
Indian Finance Minister Nirmala Sitharaman presented the Union Budget 2023-24 in Parliament on Wednesday (February 1), with a focus on the inclusive development of all sectors and sections of people. During her speech, Sitharaman announced a 'Mahila Samman Saving Certificate' with a fixed interest rate for two years. She said that the deposit can be made in the name of a woman or a girl child. The finance minister announced that this new saving initiative can be availed for a deposit amount with a partial withdrawal option.
Sitharaman announced, "One-time new small saving under 'Mahila Samman Saving Patra'. The deposit facility for the women and girls will be for a period of two years with a rate of interest of 7.5 per cent."
What is Mahila Samman Saving Certificate? Here's all you need to know about the interest rate, tenure, and limit for the amount to deposit:
1) The Mahila Samman Bachat Patra is a one-time new small savings scheme.
2) It will be made available for a two-year period up to March 2025.
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3) This will offer a deposit facility of up to Rs 2 lakh in the name of women or girls for a tenor of two years.
4) The scheme can be availed at a fixed interest rate of 7.5 per cent with a partial withdrawal option.
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The finance minister also announced that 81 lakh self-help groups have been created by mobilising rural women for the economic empowerment of women under the Deendayal Antyodaya Yojana National Rural Livelihood Mission.
She said that the government aims at enabling these groups to reach the next stage of economic empowerment through the formation of large producer enterprises or collectives with each having several thousand members.
The finance minister said that financial assistance of more than Rs 2.25 lakh crore has been provided to small farmers under PM-Kisan Samman Nidhi. She stated that with this initiative, about three crore women farmers have been provided with Rs 54,000 crore.
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