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WhyGovt Jobs considered to be BAD???

Why Govt Jobs considered to be BAD???   Table of Contents 1.      Title 2.      Disadvantages 3.      Conclusion Is Govt Job really bad???   This is a million dollar question in every career aspirants who are aiming for job either in private or public sector.   While preparing for examinations, they undergo such type of questions in back of their mind whether it will be lucrative to join govt job or private job.   In today's MNCs enviornment, when there are so many perks at private company as well as advantages of joining govt sector is also there.   So first let's discuss the major disadvantages which govt sector seems to have over private sector.:   1. Slow career growth: In some government jobs, promotions and career advancement might be slower compared to the private sector. There could be strict hierarchies and limited opportunities for rapid progression.       2.Bureaucracy: Governmen...
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Mahila Samman Savings Certificate Scheme 2023

Mahila Samman Savings Certificate Scheme 2023





MAHILA SAMMAN SAVINGS CERTIFICATE - FEATURES

MSSC, 2023 is a flagship small saving scheme of the Ministry of Finance, launched by our Honorable Finance Minister for Women and Girls during the Budget speech FY 2023-2024 on February 1, 2023. Under the scheme, individual girls or women can open a Mahila Samman Savings Certificate, or a guardian can open an account on behalf of a minor girl. The minimum investment required is Rs. 1,000/-, and any sum in multiples of Rs. 100/- can be deposited, up to a maximum limit of Rs. 2,00,000/-. Individuals can open multiple accounts with a gap of three months between each account, subject to the overall investment cap of Rs. 2,00,000/-

 

ELIGIBILITY

·         · Any Individual Women.

·         · The Minor account can also be opened by the guardian.

 

BENEFITS

·         · 100% safe and Secured

·         · Scheme by Government of India

·         · Attractive interest rate of 7.5%

 

INVESTMENT

·         · A minimum of one thousand rupees and any sum in multiples of one hundred rupees may be deposited in an account and no subsequent deposit shall be allowed in that account.

·         · A maximum limit of two lakh rupees shall be deposited in a single account or multiple accounts held by an account holder.

·         · An individual may open any number of accounts subject to the maximum limit for deposit and a time gap of three months shall be maintained between the existing account and the opening of other account.

 

RATE OF INTEREST

·         · The deposits made under this Scheme shall bear interest at the rate of 7.5 % per annum.

·         · Interest shall be compounded on quarterly basis and credited to the account.

PREMATURE WITHDRAWAL

·         · The account holder shall be eligible to withdraw maximum up to 40% of the Eligible Balance once after the expiry of one year from the date of opening of the account but before the maturity of the account.

MULTIPLE ACCOUNTS

·         · The Customer can open multiple accounts under this scheme, however 2nd account can be opened only after time gap of three months from the date of opening of 1st account and so on. However total deposit including all the accounts should not exceed Rs 2 Lacs.

NOMINATION

·         · Nomination facility is available for maximum upto 4 Nominee per account.  

PREMATURE CLOSURE OF ACCOUNT

MSSC account is opened for a period of 2 years and the account shall not be closed before maturity except in the following cases, namely:-

·         · on the death of the account holder.

·         · where the Bank concerned is satisfied, in cases of extreme compassionate grounds such as medical support in life-threatening diseases of the account holder or death of the guardian, that the operation or continuation of the account is causing undue hardship to the account holder, it may, after complete documentation, by order and for reasons to be recorded in writing, allow premature closure of the account. Where an account is prematurely closed, interest on principal amount shall be payable at the rate applicable to the Scheme for which the account has been held (without deduction of any Penal Interest).

Premature closure of an account may be permitted, any time after the completion of six months from the date of opening of an account for any other reason mentioned above and in which case the balance as stood from time to time in the account shall be eligible only for the interest rate less by Two Percent (2%) than the rate specified by the scheme.

 

PAYMENT ON MATURITY

The deposit shall mature on completion of two years from the date of the deposit and the Eligible Balance may be paid to the account holder on an application in Form-2 submitted to the branch on maturity.

 

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