Money Saving Scheme For Women Let’s Talk About How It Works

You can see every country’s government always talks about women's empowerment which is an important factor and much needed. There are multiple projects going on women's empowerment and I am going to share one scheme that is going on in India. When it comes to the economic security of women, it is most important to work on it. I have chosen one saving scheme to talk about here. In the budget of 2023-24, this project has been announced. And this project's name is MSSC. So let me share what is the MSSC project’s aim. So all the women have to open a bank account to get the benefit of this scheme.

They will receive a 7.5% APR if they invest something in this scheme. However, it seems like a joke to the hive users because they are getting 20% APR in the HBD saving but this is big for the people who live in rural areas and these people don’t even know the “H” of the hive. I mean to say they don’t have any idea about Hive or any blockchain and crypto. So this type of scheme is important for them. I hope that in the future government will launch the blockchain and crypto learning program so this industry can reach rural areas in the world.

This scheme is not for a lifetime it is only valid till March 2025. 1000 INR is the minimum amount and the maximum amount is 2,000,00. And there are some rules that need to be followed. So the timeline is 2 years and that is why you can’t take your money until 2 years complete. But if you want to withdraw your money then you can withdraw 40% maximum and you can do it after one year. So this is the rule of this scheme. Let’s say if any holder dies or becomes seriously ill then she will get 2% less interest. So this is the project for women and I have just given you all the information regarding this project.

I believe the interest rate is lower because 7% is nothing. Even banks are taking 15% to 20% interest on loans. But when it comes to the common people, no one cares. That is why decentralization is very important. However, crypto and blockchain give you this big facility but it is risky too so in this case proper learning is the most important. Common people always fight inflation and they have to survive with less beneficial work and benefits. Education and facilities are the most important factors that people should get. The second step would be technology.

Women from rural areas are not literate and that is where the problem starts. Also, they are not getting facilities. Anyway, when it comes to the saving scheme then it should give at least 10% and it is should not just for two years but every woman should get this benefit for her life long. Also, they should be free to withdraw money in the period between.

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Lucky Ali