BENGALURU: The Karnataka Postal Circle on Monday rolled out a new scheme, Mahila Samman Savings Certificate (MSSC) 2023, to boost the financial empowerment of women in the State.
Its salient features are a fixed interest of 7.5% over a two-year period, a maximum ceiling limit of Rs 2 lakh over a two-year period and partial withdrawal after a year.
Chief Postmaster General of the Circle, S. Rajendra Kumar told TNIE that the launch was part of a nationwide initiative to bring about financial inclusion of women and girl children. “The 7.5% interest we offer is much more than banks and it will be consistent during the two-year period when the scheme is in effect. The big plus point is that your money is always safe with the Postal department.”
The Scheme is for a two-year period which ends on March 31, 2025. “The payouts will be made every quarter. If anyone opens an account even on the last date, the benefits of it will continue until the two-year period for the account holder is completed. The interest will be compounded on a quarterly basis and credited to the account,” he said.
Sudhakara G Devadiga, Assistant Postmaster General told TNIE, “We have 9,613 post offices across the State. We estimate that at least one lakh women across the State will invest in the scheme.”
Giving details, he said the scheme can be opened at any of the post offices in the State.
“A woman or girl (by a guardian in case the child is minor) can open any number of accounts under the scheme but there needs to be a three-month gap between consecutive accounts. Only a one-time deposit is permitted per account and a minimum of Rs 1,000 and any sum in multiples of 100 can be made. There will be no deposits permitted in that account after that. The maximum amount permitted in all the accounts held by an account holder under this scheme is Rs 2 lakh.”
On the expiry of one year after the deposit, the individual will be permitted to withdraw 40% of the amount, Devadiga said.
The account cannot be closed before the maturity period. The only exceptions are the death of the account holder and extreme compassionate grounds like life-threatening medical issues of the individuals.
Postcard on Jain spiritual leader
To mark Mahaveer Jayanti on Tuesday, a picture postcard on the 24th Thirthankar Bhagwan Mahaveer was released in advance by Chief Postmaster General, Karnataka Circle, Rajendra S Kumar at the General Post Office on Monday. The postcard bore photos of the spiritual leader with the words 'Live and Let live.'
Jains from across South India had come over to take part in the unique event organised by the Jainism Philatelic Society of India and India Post. Cancellations on the same will be issued today (Apr 4) to mark the auspicious day.
D Surendra Kumar, National president of Bharathiya Jain Milan, Mahaveer Kundur, National Vice president, of Jainism Philatelic Society of India and Vikas Jain, Karnataka working president of Bharatvarshiya Digamber Jain Tirth Sanrakshini Mahasabha were present.