Question

Mahila Samman Savings Certificate Scheme is launched in the Year

• A. 2021
• B. 2019
• C. 2018
• D. 2023

Answer 1

Answer:

D. 2023

• Launch Date: The Mahila Samman Savings Certificate (MSSC) scheme was announced by Union Finance Minister Nirmala Sitharaman in the Union Budget 2023–24 and officially launched on April 1, 2023.

• Key Features:

  • Target Audience: Exclusively designed for women and girl children (a deposit can be made by a woman for herself or by a guardian on behalf of a minor girl).

  • Interest Rate: Offers a fixed interest rate of 7.5% per annum, compounded quarterly.

  • Tenure & Deposit: A 2-year small savings scheme with a maximum deposit limit of ₹2,000,000 (₹2 Lakhs) and a minimum deposit of ₹1,000.

  • Partial Withdrawal: Allows a one-time partial withdrawal of up to 40% of the eligible balance after one year from the date of account opening.