PM Urges Women To Enroll For Mahila Samman Certificate Scheme

The PM has urged women to enroll for Nari Shakti scheme that will strengthen women empowement and has potential to make them independent.

Image source: Jagran Josh

Recently PM Narendra Modi has urged women to enroll for the Mahila Samman Savings Certificate that will strengthen the ‘Nari Shakti’ of the nation. In quoting a tweet by Women and Child development Minister Smriti Irani where she was seen in a post office New Delhi enrolling for the scheme the PM said, “I also urge more women to enroll for MSSC. It offers many advantages for our Nari Shakti.”

PM urges women to enroll for Mahila Samman Certificate Scheme - Asiana Times

Image source: Value Research

Mahila Samman Saving Certificate (MSSC) is a one-time investment scheme for women launched by the Finance Minister while presenting the budget for the current fiscal. It is a scheme only for women and minor girl children who can enroll in the scheme with the help of a female guardian.

Women, as per this scheme, can deposit an amount of minimum Rs.1000 to a maximum of Rs. 200000 for a period of two years starting Form 1^st April 2024 i.e. the new financial year. The amount should be deposited in multiples of 100s. A hefty interest of 7.5% will be provided by the government for the scheme which will be deposited in the account every quarterly.

While the scheme allows a partial withdrawal i.e. 40% of the amount deposited; complete withdrawal cannot be made until the end of 2 years unless some ‘exceptional’ circumstances arise. The investment scheme for women is available till the end of March 2025.

The Finance Ministry in a statement said that the scheme is available at all the 1.59 lakh post offices in the nation and one can enroll in the scheme via a Form-1 available at the post office. Information regarding tax concessions, deduction and other benefits has not been provided by the concerned ministry but it is expected to be made public.

As per data only 25% of women in India have a savings account or any form of bank account. Such a scheme by the government promotes women to open bank accounts and invest their money in safe channels of investment. Various schemes by the government such as Sukanya Samriddhi Yojana, PM Awas Yojana, etc. help women become independent and live a dignified life.

Earlier this month the government in its regular exercise had raised the interest rates for Small Savings Scheme by 70 basis points.