Budget 2023-24: FM Sitharaman announces Mahila Samman Bachat Patra
Finance Minister announced Mahila Samman Bachat Patra- a one-time new small savings scheme – for a two-year period up to March 2025. This initiative will avail a deposit facility for a woman up to ₹2 lakh for a two-year period at a fixed interest rate of 7.5% with a partial withdrawal option.
This scheme is launched to commemorate the Azadi Ka Amrit Mahotsav. The Finance Minister further enhanced the maximum deposit level of the Senior Citizens’ Saving Scheme from ₹15 lakh to ₹30 lakh. She also announced enhancing the maximum deposit limit for Monthly Income Accounts Scheme from ₹4.5 lakh to ₹9 lakh for single accounts, and ₹9 lakh to ₹15 lakh for joint accounts.