PNB: Department of Economic Affairs, Ministry of Finance through an e-Gazette announcement published on June 27, 2023 authorized all public sector banks and eligible private sector banks to execute and operate the Mahila Samman Savings Certificate, 2023 .
Mahila Samman Certificate: Many schemes have been launched by the Modi government for the people. In these, many schemes have been started by the government to benefit women. Meanwhile, the government had also announced a scheme for women in Budget 2023, which is now being started by different banks. The name of this scheme is Women’s Honor Certificate and now PNB has also started this scheme.
Punjab National Bank
Punjab National Bank (PNB) has launched Mahila Samman Certificate, 2023 for its women customers. PNB is the fourth bank to start this small savings scheme. Mahila Samman Certificate aims to improve access to the scheme for girls and women. This was announced by Finance Minister Nirmala Sitharaman in Budget 2023. Mahila Samman Savings Certificate Scheme will now be available for subscription at post offices and eligible scheduled banks.
Women’s honor certificate
The Department of Economic Affairs, Ministry of Finance, through an e-Gazette announcement published on June 27, 2023, authorized all public sector banks and eligible private sector banks to execute and operate the Mahila Samman Savings Certificate, 2023. It is operational from April 1, 2023 only through post office. Under this scheme, investment can be made on or before March 31, 2025 through a woman for herself or through a guardian on behalf of a minor girl. The account opened under this scheme will be a single holder type account.
Mahila Samman Savings Certificate Interest
At the same time, good interest is also being given through this scheme. Interest will be given at the rate of 7.5 percent per annum on the amount deposited under Mahila Samman Savings Letter. Interest will be compounded quarterly and credited to the account. Note that the interest is taxable.
