The Mahila Samman Savings Scheme

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MSSC, Mahila Samman Savings Certificate Scheme
Why the scheme is in the news?

The Mahila Samman Savings Certificate Scheme: Encouraging Women’s Investments… 

The Mahila Samman Savings Certificate Scheme
Why the scheme is in the news?

Mahila Samman Savings Certificate Scheme:- Under the scheme, women can invest in a savings certificate for a minimum of Rs. 1,000 and a maximum of Rs. 4.5 lakhs. The certificate has a tenure of 5 years and offers an interest rate of 7.3% per annum, which is higher than the interest rate offered by most banks on fixed deposits.

The scheme also offers tax benefits under Section 80C of the Income Tax Act, which allows women to claim a deduction of up to Rs. 1.5 lakhs on their taxable income.

One of the key features of this scheme is that it is available to all women, regardless of their age, income or educational qualifications. It is particularly beneficial for women from low-income households who may not have access to other financial products.

The scheme has been well-received by women across India and has helped to encourage more women to invest in their financial futures. It is seen as an important step towards promoting gender equality and empowering women through financial independence.

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Mahila Samman Savings Certificate Scheme Details

Ministry: – Ministry of Finance

Launch Year: – 2023

Implementing Body: – Banks and Post Office

Objectives: – to promote investments among women

Beneficiaries: – Women

Eligibility criteria: – The account can be opened by a woman for herself or by the guardian on behalf of a minor girl…. 

the Mahila Samman Savings Certificate Scheme has been in the news in the past because it is a government initiative aimed at promoting financial independence among women in India, and has been well-received by women across the country. It is possible that recent news articles have highlighted the scheme as a successful example of government initiatives to promote women’s financial inclusion and empowerment.

The scheme also offers tax benefits under Section 80C of the Income Tax Act, which allows women to claim a deduction of up to Rs. 1.5 lakhs on their taxable income.

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