Which of the following statements is/are incorrect in regards to Mahila Samman Bachat Patra? 1.Women will get a 7.5% interest p.a. for the one-time deposit made by them at the end of two years 2.Minimum Deposit is Rs.1,000 and Maximum deposit is Rs.2 lakh 3.It permits 40% withdrawal after one year.

Solution

The Mahila Samman Savings Certificate is a one-time savings scheme for women announced by the government in Budget 2023. The scheme aims to empower women by increasing their participation in investments.  It is a government-guaranteed scheme where women can earn a fixed interest of 7.5% with Minimum Deposit is Rs.1,000 and Maximum deposit is Rs.2 lakh. This scheme is available for investment for two years only, starting from April 1, 2023, to March 31, 2025. After this period, you cannot invest in this scheme. It permits 40% withdrawal after one year.