Key Points
The Finance Ministry has recently released an official notification for Mahila Samman Savings Certificates, 2023..
The scheme was introduced in the 2023-24 Budget by the Finance Minister, Nirmala Sitharaman, with the objective of promoting financial inclusion and empowering women, including girls..
. "These measures will immensely benefit the post office small savings customers and attract more investment in these schemes through post offices, especially in rural areas and amongst girls, women, farmers, artisans, senior citizens, factory workers, government employees, small traders and other sections of the society..
The government has raised the rate of interest on various Small Savings Schemes for the first quarter of the financial year 2023-24 starting April 1 by up to 70 basis points (100 basis points is equal to 1 percentage point)..
Several small savings schemes have undergone a hike in interest rates, with the Senior Citizen Savings Scheme's rate increasing by 20 basis points, National Savings Certificate's rate by 70 basis points, Kisan Vikas Patra's rate by 30 basis points, and Sukanya Samriddhi Yojana's rate by 40 basis points..
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