Step 1: Understanding the Concept: 'Saheli' is a highly successful oral contraceptive pill developed specifically for females in India by the Central Drug Research Institute (CDRI).
Step 2: Key Formula or Approach: Evaluate each characteristic of 'Saheli' against its known pharmacological profile to find the false statement.
Step 3: Detailed Explanation: 'Saheli' is unique worldwide because it is a non-steroidal preparation (centchroman), unlike traditional birth control pills which contain steroid hormones like estrogen and progesterone.
It is highly convenient as it needs to be taken only once a week (a 'once-a-week' pill).
Because it lacks conventional steroids, it exhibits very few side effects.
Most importantly, despite its mild and non-steroidal formulation, it has a very HIGH contraceptive value.
Therefore, the statement claiming it has a "low contraceptive value" is factually incorrect.
Step 4: Final Answer: The incorrect statement is (3).