In a move aimed at encouraging women to open Mahila Samman Savings Certificate (MSSC), Union Minister for Women and Child Development and Minority Affairs Smriti Irani reached a post office to open the saving scheme account, which was announced in the 2023-24 Union Budget by Finance Minister Nirmala Sitharaman to commemorate ‘Azadi Ka Amrit Mahotsav’.
The move is being seen as a major initiative towards financial inclusion and empowerment of women including the girls.
Irani came to the counter as a common post office customer and completed the account opening formalities. The minister's MSSC account was opened and a computer generated passbook was handed over to her at the counter itself.
On the occasion, the union minister interacted with the post office staff and some of the MSSC and Sukanya Samriddhi Yojana account holders. A senior official of the postal department said that the minister’s gesture is expected to inspire millions to come forward and open their MSSC and Sukanya Samriddhi account in the nearest post office.
Among the officials present on the occasion include Manju Kumar, CPMG-Delhi circle, Ashok Singh, PMG (operations), Binti Choudhury, director (operations), and other officials of the Delhi postal circle. The two-year tenure scheme offers an attractive interest rate of 7.5 percent compounded quarterly with flexible investment and partial withdrawal options with a maximum ceiling of Rs two lakh. The scheme is valid for a two-year period up to March 31, 2025.
The scheme has been made available in all 1.59 lakh post offices from April 1, 2023. Prime Minister Narendra Modi applauded the scheme through a tweet on April 3 this year.