Mahila Samridhi Yojana

- With the objective of providing economic security to the rural women and to encourage the saving habit among them, the Mahila Samridhi Yojana was started on October 2, 1993.
- Under this plan, the rural women of 18 years or above age can open their saving account In the rural post office of their own area with a minimum Rs. 4 or its multiplier.
- On the amount not withdrawn for 1 year, 25% of the deposited amount is given to the depositor by the government in the form of encouragement amount.
- Such accounts opened under the scheme are provided 25% bonus with a maximum of Rs. 300 every year.
- The Departmept of women and Child Development, the nodal agency for MSY, decided in April 1997 that no new MSY accounts should be opened from April 1, 1997 onwards but the existing accounts could be maintained.
- Recently it is decided to merge this scheme with 'Mahila Swayam Sidha Yojana' a new scheme announced on July 12,2001.