FM Sitharaman proclaims ‘Mahila Samman Bachat Patra’, small financial savings scheme for ladies

On February 1, Wednesday, Finance Minister Nirmala Sitharaman introduced a one-time small financial savings scheme Mahila Samman Bachat Patra. This Patra or certificates can be accessible for a interval of two years as much as March 2025. This scheme would supply a deposit facility for a lady or women as much as Rs. 2 lakhs for a two-year time period at a set rate of interest of seven.5% with a partial withdrawal possibility in a bid to financially empower girls.

The initiative is being launched to commemorate ‘Azadi Ka Amrit Mahotsav’. “One-time new small saving scheme under ‘Mahila Samman Saving Certificate’ will be made available up till March 2025. This will offer a deposit facility of up to Rs 2 lakh for the women and girls for a tenure of two years, with a fixed rate of interest 7.5% with a partial withdrawal option,” FM Sitharaman introduced.

For commemorating #AzadiKaAmritMahotsav, a one time new small financial savings scheme ‘Mahila Samman Bachat Patra’ can be made accessible up until March 2025

This will provide deposit facility as much as ₹2 Lakhs at a set rate of interest of seven.5% with partial withdrawal possibility #AmritKaalBudget pic.twitter.com/jxyqgBEXjv

— PIB India (@PIB_India) February 1, 2023

The Senior Citizens’ Savings Scheme’s (SCSS) most deposit quantity was elevated by the Finance Minister from 15 lakhs to 30 lakhs. 

Senior Citizen Savings Schemes (SCSS) restrict has been doubled

From ₹15L to ₹30L

Fixed revenue devices are most popular by Senior residents#SCSS offers ~8% p.a. curiosity#BudgetWithKB

— CA Kanan Bahl (@BahlKanan) February 1, 2023

As a part of the Monthly Income Accounts Scheme, she additionally introduced a rise within the most deposit limits from 4.5 lakhs to 9 lakhs for single accounts and from 9 lakhs to fifteen lakhs for joint accounts.

Monthly Income Scheme restrict doubled to Rs 9 lakh and Rs 15 lakh for joint accounts

— Press Trust of India (@PTI_News) February 1, 2023

Earlier whereas talking in regards to the rising financial system of India, the Finance Minister mentioned that the world has acknowledged the Indian financial system as a shiny star.

#Budget2023

“The world has recognized India as a bright star, our growth for current year is estimated at 7.0%, this is the highest among all major economies, in spite of massive global slowdown caused by pandemic and the war”#AmritKaalBudget

— PIB India (@PIB_India) February 1, 2023

She mentioned, “Our current year’s economic growth is estimated at 7%. Notably, this is the highest among all the major economies. This is despite the massive slowdown globally caused by Covid-19 and the war. The Indian economy is therefore on the right track and despite the time of challenges, heading towards a bright future.”