With the issuance of Gazette notification for Mahila Samman Savings Certificates by the Ministry of Finance, it has been made available in Post Offices with immediate effect. The scheme was announced by the Union Finance Minister in the Budget 2023-24 on the occasion of 'Azadi Ka Amrit Mahotsav' and it is a significant step towards financial inclusion and empowerment of women including girls. The above information was given by Shri Krishna Kumar Yadav, Postmaster General, Varanasi Region. On the first day, more than 25 Mahila Samman Savings Certificates were issued from the Post Offices of Varanasi. Mrs. Jaya Sharma received 'Mahila Samman Bachat Patra' from BHU Hospital Post Office as the first customer in Varanasi district.
Postmaster General Shri Krishan Kumar Yadav said that the scheme offers an attractive and fixed interest of 7.5 percent compounded quarterly with a maximum limit of Rs 2 lakh with flexible investment and partial withdrawal options for a period of two years. The scheme is valid for a period of two years till March 31, 2025. A minimum investment of Rs 1,000/- and a maximum of Rs 2 lakh can be invested in this scheme. This account will be single and multiple accounts can be opened at an interval of 3 months, but the deposit in all the accounts together will not exceed Rs. 2 lakh. Compound interest at the rate of 7.5% is payable on the amount deposited in the account, which will be credited to the account every quarter. Account holders can get payment up to a maximum of 40% of the deposit amount after 1 year and after 6 months, if required, premature payment can also be received, on which interest will be given at the rate of 5.5%. There is also a provision for income tax exemption under Section 80-C on investment in this scheme, said shri Yadav.
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Mahila Samman Savings Certificate will play an important role in the financial inclusion and empowerment of women - Postmaster General Krishna Kumar Yadav
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