The government’s latest small savings scheme for women, launched on April 1 last year, has drawn 4.33 million depositors across the country, minister of state for finance Pankaj Chaudhary told the Lok Sabha on Monday.
Maharashtra led the pack of states with 7,46,223 accounts under the Mahila Samman Savings Certificate Scheme, followed by Tamil Nadu (5,47,675 accounts), Odisha (4,16,989), Karnataka (2,93,007), Uttar Pradesh (2,69,532), West Bengal (2,54,777), Rajasthan (2,22,169), Andhra Pradesh (2,11,016), Gujarat (1,55,267), Himachal Pradesh (1,43,704) and Madhya Pradesh (1,39,506), the minister said in a written reply.
The one-time scheme has a deposit cap of Rs 2 lakh and offers a fixed interest rate of 7.5%, with a partial withdrawal option.
Presenting the Budget in February last year, finance minister Nirmala Sitharaman had announced the scheme to commemorate 75 years of India’s independence.
The scheme would be made available for a two-year period through March 2025, she had said.
Senior finance ministry officials earlier said the scheme had drawn strong participation by women in even rural areas.
The account under this scheme can be opened by a woman for herself, or by the guardian on behalf of a minor girl, on or before March 31, 2025.
“The scheme was launched by the government to promote financial independence of women of the country by allowing an attractive rate of interest and to also help in achieving objectives of financial inclusion as set by the government of India,” Chaudhary said in the reply.
