Mahila Samman Savings Certificate is a one-time savings scheme for women.
The scheme was announced in the Union Budget FY 2023-24 to provide financial security to every girl and woman in India.

Key Features of the Mahila Samman Savings Certificate Scheme:

Who can open the account? An account under this scheme can be opened by a woman for herself or by the guardian on behalf of a minor girl child.

Tenure: An account can be opened under this scheme on or before March 31, 2025, for a tenure of two years

Interest rate: The deposit made under MSSC will bear interest at the rate of 7.5% per annum which will be compounded quarterly.

Limit on minimum and maximum investment: Minimum of ₹1000 and any sum in multiple of 100 may be deposited within the maximum limit of ₹200,000.

Maturity of the investment under this scheme is two years from the date of opening of the account under the scheme.

Partial withdrawal upto 40% of eligible balance can be availed after the expiry of one year from the date of opening of the account

Significance of the scheme: This scheme is a commendable initiative by the Government to empower women and promote their financial independence. 
– As the scheme yields high returns on investment in a short span of 2 years, it will definitely increase women investors especially in rural areas.

#currant affair#Certificate Scheme#upsc