6 MinsSep 15, 2022
Ibrahim Khan, 30, runs a thriving auto workshop while his wife Salma, 28, works as a primary school teacher. The couple was recently blessed with a lovely daughter. When Salma’s brother Asif, a banker, came to visit the happy family along
with lots of gifts for his newborn niece, he also brought forms for enrolling her name in the Sukanya Samriddhi Yojana.
Ibrahim and Salma had several questions, and this is how Asif answered them:
What is Sukanya Samriddhi Yojana (SSY)?
SSY is a scheme of the Government of India (GoI) aimed at the betterment of every girl child in the country and is part of its Beti Bachao, Beti Padhao (Save the Girl Child, Educate
the Girl Child) campaign. It is an investment scheme aimed at encouraging the parents of a girl child to save for her education and/or marriage.
Why the scheme?
In large parts of the country, a girl child is seen as a burden due to outdated cultural mores. In extreme cases, families even indulge in the abdominal practices of female feticide or female infanticide.
SSY is an attempt by the GoI to reduce this by offering financial incentives if the parents of a girl child want to save for her future.
How does it work?
Parents of a girl child can open an SSY account with any branch of a designated bank or the post office. The documentation required is minimal and consists of KYC requirements. An SSY account can be opened
with as little as Rs. 250; the maximum deposit allowed in a year is Rs. 1.5 lakh.
Advantages of an SSY account:
Axis Bank is one of the designated banks by the Indian government to open and operate Sukanya Samriddhi Yojana accounts. Get more information online.
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