Mahila Samman Savings Certificate scheme was announced with deposit facility upto ₹2 lakh

Mahila Samman Savings Certificate scheme was announced with deposit facility upto ₹2 lakh 

4148.SHRI MANNE SRINIVAS REDDY

         SHRI KOMATI REDDY VENKAT REDDY

Will the Minister of FINANCE be pleased to state:

(a) whether a one-time new small savings scheme, Mahila Samman Savings Certificate, will be made available for a two-year period up to March 2025 which will offer deposit facility upto Rs. 2 lakh in the name of women or girls for a tenure of 2 years at fixed rate of interest 7.5 per cent with partial withdrawal option and if so, the details thereof; and

(b) whether the Government has any proposal to increase the limit of amount to at least ten lakh rupees so that this amount will be useful to fund their education/marriage purpose to encourage the women to save their money for their educational and marriage purposes without depending on others and if so, the details thereof and if not, the reasons therefor?

(a) Yes Sir. In the Budget Speech of FY 2023-24, the Mahila Samman Savings Certificate scheme was announced with deposit facility upto ₹2 lakh in the name of women or girls for a tenor of 2 years at fixed interest rate of 7.5 per cent with partial withdrawal option.

(b) No Sir. The Sukanya Samriddhi Account Scheme already exists which was introduced with similar intent and aims at encouraging financial savings for girls.

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