A Comparison of the Mahila Samman Savings Certificate with Other Small Savings Schemes for the Empowerment of Women in India

Abstract

Background/purpose: Despite this, women are having high exposure and they are working in all fields like defense, engineering, medicine, etc. In order to make all women in the nation attain a standard Women Empowerment is needed. Women Empowerment focuses on empowering each and every woman in the country to make them independent in all aspects of society, to be aware of their rights, and to make them equipped with physical security. Objective: This paper focuses, Mahila Samman Savings Certificate, A New Modest Savings Scheme for Women in India, programs available to women and girls in India, as well as women who are gaining benefits from various government programs that have been implemented with government aid, are the main topics of this article. Design/Methodology/Approach: Numerous programs for women are funded by the central government and are sponsored by the Indian government. A research study has been undertaken to learn about these plans and make a comparison of these programs. The Ministry of Finance, the Ministry of Women and Child Development, Google, Google Scholar, new papers, journals, theses, and other websites were some of the sources used to compile the secondary data for this research study. Findings: This article focuses on the different schemes and factors that have made women's empowerment possible. The Mahila Samman Small Savings Yojana Program and other women-specific small savings initiatives are the primary subjects of this study. The Mahila Samman Savings Certificate Program is a modest savings program supported purely by the government for women and girls. Therefore, it has no credit risk and, pays the highest rate of interest when compared to other programs. Small Savings Scheme, for example, pays the highest rate of interest when compared to fixed-rate deposits (FDs) offered by public banks in various states, while Sukhnya Samridi Yojana has a shorter tenure of just two years. Originality/Value: This paper focuses on the different schemes and purposes that have made women's empowerment possible. The Mahila Samman Small Savings Yojana Program and other women-specific small savings initiatives are the primary subjects of this study. Paper Type: Research Paper