Finance Minister Nirmala Sitharaman announced major changes in the small savings schemes bucket with a doubling of the maximum investment limit under the Senior Citizen Savings Scheme (SCSS) and the Post Office Monthly Income Plan (Pomis).
In her Union budget speech for 2023-24, Sitharaman also announced the introduction of a limited period scheme for women, the Mahila Samman Saving Certificate (MSSC), which will be available for two years till March 2025. The scheme will offer a fixed return of 7.5 per cent. Deposits under this scheme can be made in the name of a woman or a girl child. The scheme will have a partial withdrawal facility as well. The maximum deposit permitted is Rs 2 lakh.
The SCSS maximum