Centre unlikely to extend Mahila Samman Savings Certificate scheme

Inflows into small savings schemes may level off

The Centre is unlikely to extend the Mahila Samman Savings Certificate scheme (MSSCS) that was made available for two years beyond its March 2025 deadline, according to official sources. 

Finance Minister Nirmala Sitharaman, in the Budget for FY24, had announced the scheme with an aim to encourage the habit of savings among Indian women.

The small savings scheme offers a fixed interest rate of 7.5 per cent with a partial withdrawal option.

In the first nine months of FY24, over 2.25 million accounts were opened under the MSSCS with a deposit of over Rs 14,500 crore.

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