Question
Which public sector bank has become the first to
officially roll out Mahila Samman Savings Certificate (MSSC) scheme?Solution
Bank of India, has become the first bank to officially roll out Mahila Samman Savings Certificate (MSSC) scheme. The scheme offers an interest rate of 7.5 per cent per annum, compounded quarterly.Individual girls or women can open an account under the Mahila Samman Savings Certificate scheme or a guardian can open an account on behalf of a minor girl. The account will mature after two years from the date of opening. Accounts under this scheme can be opened until March 31, 2025. While the minimum investment is Rs 1,000, any sum in multiples of Rs 100 can be deposited, up to a maximum limit of Rs 2 lakh.
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