Implementation of 40% Withdrawal Functionality for MSSC Scheme in Finacle – SB Order No. 02/2025

Implementation of 40% Withdrawal Functionality for MSSC Scheme in Finacle – Financial Services Division,  Department of Posts SB Order No. 02/2025 dated 17.03.2025

SB Order No. 02 /2025

No-CBS-25/4/2023-FS-DOP
Government of India
Ministry of Communications
Department of Posts
(Financial Services Division)

Dak Bhawan, New Delhi — 110001
Dated: 17.03.2025

To
All Head of Circles / Regions

Subject: Implementation of 40% Withdrawal Functionality for MSSC Scheme in Finacle — Reg.

Madam / Sir,

Kindly refer to SB Order 5/2023 dated 31.03.2023, which circulated the rules pertaining to the Mahila Samman Savings Certificate (MSSC) Scheme.

2. As stipulated in Rule 7 of the MSSC Scheme, 2023, “The account holder shall be eligible to withdraw a maximum of up to forty percent of the Eligible Balance, once, after the completion of one year from the account opening date, and prior to the account’s maturity.”

3. In accordance with Rule 7 of the MSSC Scheme, 2023, a functionality enabling the 40% withdrawal from MSSC accounts has been deployed in Finacle, effective from 07.03.2025.

4. A Standard Operating Procedure (SOP) detailing the withdrawal process within Finacle is attached as Annexure for reference.

5. It is requested to circulate the SOP to all concerned for information, guidance and necessary action.

6. This issues with the approval of the Competent Authority.

Yours faithfully,

Encl: As Above

Sd/-
(DevenderKumar Sharma)
Assistant Director (SB-II)