Will Govt hike Mahila Samman Savings Certificate (MSSC) deposit limit to Rs 10 lakh? FinMin replies

Mahila Samman Savings Certificate Deposit Limit: The Government isn't always thinking about any thought to boom the deposit restriction beneathneath the these days introduced Mahila Samman Saving Certificate (MSSC) scheme.

In Budget 2023, Finance Minister Nirmala Sithraraman introduced the selection to release the MSSC scheme for ladies and ladies with a deposit restriction of Rs 2 lakh. The scheme will provide a set hobby of 7.five% for 2 years with a partial withdrawal option.

Replying to a question on whether or not the Government has any thought to boom the restriction of quantity to as a minimum Rs 10 lakh beneathneath MSSC, Pankaj Chaudhary, Union Minister of State for Finance, stated there may be no such thought.

“No Sir. The Sukanya Samriddhi Account Scheme already exists which turned into brought with comparable reason and goals at encouraging economic financial savings for ladies,” Chaudhary stated on Monday (March 27).

Whether MSSC be to be had for a -yr duration as much as March 2025?

Replying to any other question on “whether or not a one-time new small financial savings scheme, Mahila Samman Savings

Certificate can be made to be had for a -yr duration as much as March 2025”, Chaudhary stated that the scheme can be to be had for a duration of  years as much as March 2025.

“Yes Sir. In the Budget Speech of FY 2023-24, the Mahila Samman Savings Certificate scheme turned into introduced with deposit facility upto ₹2 lakh withinside the call of ladies or ladies for a tenor of two years at constant hobby fee of 7.five in keeping with cent with partial withdrawal option,” the minister stated.

He turned into replying to a question on “whether or not a one-time new small financial savings scheme, Mahila Samman Savings Certificate can be made to be had for a -yr duration as much as March 2025 so that you can provide deposit facility upto Rs. 2 lakh withinside the call of ladies or ladies for a tenure of two years at constant fee of hobby 7.five in keeping with cent with partial withdrawal option.”