Budget 2023- What is Mahila Samman Saving Scheme, Check Details

In the budget for 2023-24, the central government made a significant announcement for women. Finance Minister Nirmala Sitharaman has announced the launch of the Mahila Samman Saving Certificate Scheme.

What is the Mahila Samman Saving Scheme?

Mahila Samman Savings Certificate, a one-time new small savings scheme, will be made available for a two-year period ending in March 2025. This will provide a deposit facility of up to '2 lakh in the name of women or girls for a period of two years at a fixed interest rate of 7.5% with the option of partial withdrawal.

Objective of Mahila Samman Saving Scheme-

The primary goal of the Mahila Samman Saving Scheme is to provide economic empowerment to women. Finance Minister Nirmala Sitharaman stated that the Deen Dayal Antyodaya Yojana has provided 81 lakh self-help loans to rural women. We have had tremendous success by incorporating Self-Help Groups. We will transform these Self-Help Groups into large productive enterprises to assist them in progressing to the next level of economic empowerment.

Interest On Mahila Samman Saving Certificate Scheme

A fixed interest rate of 7.5% with the option of partial withdrawal is available on the deposits of mahila samman saving certificate scheme.