Women-focused savings certificate provides single-holder term deposits with defined withdrawal and premature closure rules. The Mahila Samman Savings Certificate, 2023 establishes a single holder savings account for women and minor girls (via guardians) with prescribed application and KYC requirements, limits on deposits and account openings, quarterly compounded interest at the Scheme rate, defined maturity and rounding rules, a one time partial withdrawal after one year, restricted premature closure for death or compassionate grounds with specified interest consequences, agency charges for operations, application of General Rules where silent and a power for the Central Government to relax provisions in cases of undue hardship.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Women-focused savings certificate provides single-holder term deposits with defined withdrawal and premature closure rules.
The Mahila Samman Savings Certificate, 2023 establishes a single holder savings account for women and minor girls (via guardians) with prescribed application and KYC requirements, limits on deposits and account openings, quarterly compounded interest at the Scheme rate, defined maturity and rounding rules, a one time partial withdrawal after one year, restricted premature closure for death or compassionate grounds with specified interest consequences, agency charges for operations, application of General Rules where silent and a power for the Central Government to relax provisions in cases of undue hardship.
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