Mahila Samman Savings Certificate (MSSC) Scheme: Empowering Women through Financial Inclusion
In a significant move to bolster the financial independence and empowerment of women in India, the government introduced the Mahila Samman Savings Certificate (MSSC) Scheme. This initiative, launched as part of the Union Budget 2023, is a testament to the nation's commitment to ensuring economic security for its female population.
Key Features of the MSSC Scheme:
Eligibility: The scheme is exclusively designed for women and girl children who hold Indian citizenship¹.
Investment Tenure:The MSSC offers a fixed tenure of two years, starting from April 1, 2023, until March 31, 2025¹.
Interest Rate: A competitive interest rate of 7.5% per annum** is offered, compounded quarterly, ensuring a robust return on investment¹.
Investment Limits:With a minimum investment of ₹1,000 and a maximum cap of ₹2,00,000, the scheme is accessible to a broad spectrum of society¹.
Withdrawal Flexibility:Account holders can withdraw up to 40% of the balance, providing liquidity during the scheme tenure¹.
A Step Towards Financial Empowerment:
The MSSC Scheme is not just a financial instrument; it's a beacon of hope for millions of women, offering them a safe and secure avenue to grow their savings. By providing an attractive interest rate and the flexibility of partial withdrawals, the scheme caters to the unique financial needs of women, encouraging them to become active participants in the realm of investments.
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