Smriti Irani Opens Mahila Samman Savings Certificate Scheme Account With This Message

Union Minister for Women and Child Development Smriti Irani opened a Mahila Samman Savings Certificate (MSSC) account by visiting Sansad Marg Head Post Office in New Delhi on Wednesday afternoon. She went to the counter as a common post office customer and completed the account opening formalities. Her MSSC account was opened and a computer-generated passbook was handed over to her at the counter itself. Sharing the same on Twitter the Women and Child Development Minister also urged women and young girls to enrol for MSSC and take benefit of this small savings scheme.

The excerpt from the caption of the tweet penned by the Union Minister read: “Opened Mahila Samman Saving Certificate (MSSC) account at Sansad Marg Post Office today. I urge women and young girls to enrol for MSSC and take benefit of this small savings scheme.”

According to a statement released by the Communication Ministry, Smriti Irani also interacted with the post office staff and some of the MSSC and Sukanya Samriddhi Yojana account holders on the occasion. In the release, it also mentioned that the noble gesture of the Minister will surely inspire millions to come forward and open their MSSC and Sukanya Samriddhi accounts in the nearest post office.

Union Finance Minister Nirmala Sitharaman announced Mahila Samman Savings Certificate Scheme under 2023-24 to commemorate Azadi Ka Amrit Mahotsav and is a significant step towards financial inclusion and empowerment of women including girls.

The two-year tenure scheme offers an attractive interest rate of 7.5 per cent compounded quarterly with flexible investment and partial withdrawal options with a maximum ceiling of Rs 2 lakh. The scheme is valid for two years up to March 31, 2025. The scheme has been made available in all 1.59 lakh post offices from April 01.

The minimum investment amount in the small-saving scheme is Rs 1,000 and the maximum amount is Rs 2 lakh. Withdrawal is allowed up to 40 per cent of the eligible balance which can be taken after the expiry of one year from the date of opening the account. The account can be closed due to the death of the depositor or guardian and on extreme medical grounds. Premature closure of the account is also allowed within six months of opening but the interest rate will be reduced by 2 per cent.

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