{"id":25581,"date":"2024-08-04T06:01:56","date_gmt":"2024-08-04T00:31:56","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=25581"},"modified":"2025-04-07T19:00:32","modified_gmt":"2025-04-07T13:30:32","slug":"mahila-samman-savings-certificate-scheme","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/mahila-samman-savings-certificate-scheme\/","title":{"rendered":"Mahila Samman Savings Certificate (MSSC) Scheme"},"content":{"rendered":"<h2><strong>About Mahila Samman Savings Certificate (MSSC) Scheme:<\/strong><\/h2>\n<ul>\n<li>This is a <strong>one-time scheme<\/strong> announced in Budget 2023 and will <strong>remain available <\/strong>for a <strong>two-year period, i.e., up to March 2025.<\/strong><\/li>\n<li>It is a <strong>risk-free scheme<\/strong> dedicated towards <strong>women&#8217;s and girls\u2019 of all age groups<\/strong>.\u00a0<\/li>\n<li>The scheme offers a <strong>maximum deposit facility<\/strong> of up to <strong>Rs 2 lakhin the name of women or girls<\/strong> for a <strong>tenor of 2 years.<\/strong><\/li>\n<li>Benefit: It will encourage more women to adopt formal financial saving instruments.<\/li>\n<li><strong>Features<\/strong>:\n<ul>\n<li><strong>Eligibility:<\/strong>\n<ul>\n<li>Any <strong>individual women<\/strong>.<\/li>\n<li>The <strong>minor account<\/strong> can also be opened <strong>by the guardian.<\/strong><\/li>\n<\/ul>\n<\/li>\n<li><strong>Investment<\/strong>:\n<ul>\n<li>The deposit amount under this scheme is <strong>limited<\/strong>.<\/li>\n<li>A minimum of <strong>Rs. 1000 and any sum in multiples of one hundred rupees<\/strong> may be deposited in an account subject to a <strong>maximum of Rs. 2 lakhs.<\/strong><\/li>\n<\/ul>\n<\/li>\n<li><strong>Interest Rate:<\/strong> It offers a fixed interest rate of <strong>7.5 percent<\/strong>. Interest shall be <strong>compounded <\/strong>on a <strong>quarterly basis<\/strong> and credited to the account.<\/li>\n<li>The <strong>Maturity period<\/strong>\/Lock-in period of the scheme is <strong>2 years<\/strong> from the date of opening of the account.\n<ul>\n<li>However, the <strong>account holder can withdraw up to 40% <\/strong>of the account balance <strong>after one year<\/strong> from the account opening date <strong>as a partial withdrawal.<\/strong><\/li>\n<\/ul>\n<\/li>\n<li>There is a <strong>provision of multiple account opening<\/strong> under this scheme with a condition that a woman can open a second MSSC account after a minimum gap of three months from the opening of the existing account.\n<ul>\n<li>However, the <strong>total deposit,<\/strong> including <strong>all the accounts, should not exceed Rs 2 lakh.<\/strong><\/li>\n<\/ul>\n<\/li>\n<li>There are <strong>no tax benefits.<\/strong><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<hr \/>\n<h3><strong>Q1<\/strong>: What is Sukanya Samriddhi Yojana?<\/h3>\n<p>SSY is a savings scheme launched in 2015 under the Government of India&#8217;s &#8221; Beti Bachao Beti Padhao&#8221; campaign, which aims to promote the education of girl children. SSY is a small-deposit scheme tailored specifically for the girl child. This scheme enables guardians to open a savings account for their girl child with an authorised commercial bank or India Post branch. The minimum and maximum deposits that can be made in an account in a financial year are Rs.250 and Rs.1.5 lakh, respectively. The deposits can be made in multiples of 100. Deposits towards the scheme should be made for a period of 15 years. However, the scheme matures after 21 years.<\/p>\n<p><strong>Source: <\/strong><a href=\"https:\/\/www.business-standard.com\/economy\/news\/govt-may-not-extend-mahila-samman-savings-certificate-scheme-beyond-fy25-124080201375_1.html\" target=\"_blank\" rel=\"nofollow noopener\"><u>Centre unlikely to extend Mahila Samman Savings Certificate scheme<\/u><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mahila Samman Savings Certificate (MSSC) Scheme offers a maximum deposit facility of up to Rs 2 lakh in the name of women or girls for a tenor of 2 years.<\/p>\n","protected":false},"author":5,"featured_media":25582,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-25581","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-prelims-current-affairs","8":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/25581","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=25581"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/25581\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/25582"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=25581"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=25581"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=25581"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}