Finance Minister Nirmala Sitharaman in her Budget 2023 speech has proposed to introduce a new post office small savings scheme, called Mahila Samman Bachat Patra / Savings Certificate, carrying 7.50% fixed interest rate. There will be a cap of investment amount up to Rs. 2 lakh and the scheme will be available for 2 years till March 2025. As indicated by the name of the scheme, it will be available for investment by women and girls only.
We’ll update this post as more details are still awaited post budget 2023 announcement in the parliament.