Question
Download Solution PDFA new savings scheme for women with a 7.5 percent fixed interest rate for two years has been launched in the Budget 2023-2024. What is the scheme's name?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is Mahila Samman Saving Certificate
In News
- Finance Minister Nirmala Sitharaman presented the Union Budget for 2023-24 in Parliament on February 01.
Key Points
- To commemorate Azadi Ka Amrit Mahotsav, a one-time new small savings scheme, the Mahila Samman Savings Certificate, will be made available for a two-year period up to March 2025.
- This will offer a deposit facility of up to Rs 2 lakh in the name of women or girls for a tenor of 2 years at a fixed interest rate of 7.5 per cent.
- This scheme is a one-time scheme with a partial withdrawal facility.
Additional Information
- Women and girls can invest in this scheme in state-owned banks starting from 1st April 2023.
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