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Consider the following statements in the context of the Mahila Samman Savings Certificate:
1. Any woman can open a Mahila Samman account that can be opened for herself or on behalf of a minor girl.
2. The minimum investment amount is Rs 5,000 and the maximum investment is Rs 10 lakhs.
3. There is tax exemption available on the interest earned from the scheme.
4. The account holder may withdraw up to 40% of the balance after the first year from the date of account opening.
How many of the statements given above are correct?
  • a)
    Only one
  • b)
    Only two
  • c)
    Only three
  • d)
    All four
Correct answer is option 'B'. Can you explain this answer?
Verified Answer
Consider the following statements in the context of the Mahila Samman ...
  • Recently, a new small savings scheme called Mahila Samman Savings Certificate was launched specifically for female investors to promote investment among women. Accounts opened under this scheme will be single-holder accounts that can be opened at the Post Office or any registered bank.
  • Any woman can open a Mahila Samman account that can be opened for herself or on behalf of a minor girl. Hence, statement 1 is correct.
  • An account can be opened with a one-time deposit of a minimum of Rs. 1,000 and any sum in multiples of Rs. 100 in multiple accounts. However, the aggregate deposit amount across all accounts cannot exceed Rs. 2 lakhs for an individual. Hence, statement 2 is not correct.
  • The Government has not mentioned any tax benefits for the Mahila Samman Savings Certificate. Hence, statement 3 is not correct.
  • An interest of 7.5% p.a. will be paid on deposits under this scheme. The interest will be compounded quarterly and credited to the account. 
  • An account holder can make a partial withdrawal from the account of up to 40% of the eligible balance after the expiry of one year from the date of account opening. Hence, statement 4 is correct.
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Consider the following statements in the context of the Mahila Samman Savings Certificate:1. Any woman can open a Mahila Samman account that can be opened for herself or on behalf of a minor girl.2. The minimum investment amount is Rs 5,000 and the maximum investment is Rs 10 lakhs.3. There is tax exemption available on the interest earned from the scheme.4. The account holder may withdraw up to 40% of the balance after the first year from the date of account opening.How many of the statements given above are correct?a)Only oneb)Only twoc)Only threed)All fourCorrect answer is option 'B'. Can you explain this answer?
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Consider the following statements in the context of the Mahila Samman Savings Certificate:1. Any woman can open a Mahila Samman account that can be opened for herself or on behalf of a minor girl.2. The minimum investment amount is Rs 5,000 and the maximum investment is Rs 10 lakhs.3. There is tax exemption available on the interest earned from the scheme.4. The account holder may withdraw up to 40% of the balance after the first year from the date of account opening.How many of the statements given above are correct?a)Only oneb)Only twoc)Only threed)All fourCorrect answer is option 'B'. Can you explain this answer? for UPSC 2025 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements in the context of the Mahila Samman Savings Certificate:1. Any woman can open a Mahila Samman account that can be opened for herself or on behalf of a minor girl.2. The minimum investment amount is Rs 5,000 and the maximum investment is Rs 10 lakhs.3. There is tax exemption available on the interest earned from the scheme.4. The account holder may withdraw up to 40% of the balance after the first year from the date of account opening.How many of the statements given above are correct?a)Only oneb)Only twoc)Only threed)All fourCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for UPSC 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements in the context of the Mahila Samman Savings Certificate:1. Any woman can open a Mahila Samman account that can be opened for herself or on behalf of a minor girl.2. The minimum investment amount is Rs 5,000 and the maximum investment is Rs 10 lakhs.3. There is tax exemption available on the interest earned from the scheme.4. The account holder may withdraw up to 40% of the balance after the first year from the date of account opening.How many of the statements given above are correct?a)Only oneb)Only twoc)Only threed)All fourCorrect answer is option 'B'. Can you explain this answer?.
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