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NEW DELHI:
The government
has notified 'Sukanya
Samriddhi Account', a new small savings instrument for the girl child that could be
operated by her after the age of 10.
Finance Minister Arun Jaitley had announced the scheme in his
budget speech in July.
The account can be opened
and operated by the natural or legal guardian of a girl child till she attains
the age of 10, after which she can herself operate it but deposits in the
account may be made by the guardian or any other person or authority.
The account could be opened
in a post office or a public sector bank. A depositor may open and operate only
one account in the name of a girl child under these rules after furnishing
birth certificate of the girl child along with other documents relating to
identity and residence proof of the depositor.
Natural or legal guardian
of a girl child will be allowed to open accounts for two girl children only
except if the depositor has twin girls as second birth or if the first birth
itself results into three girl children.
The
government will notify interest rate on this scheme every year. The account may
be opened with an initial deposit of Rs 1,000 and the reafter any amount in
multiples of Rs 100 may be deposited, subject to the condition that a minimum
ofRs 1,000 will be deposited in a financial year but the total money deposited
in an account on a single occasion or on multiple occasions shall not exceed Rs
150,000 in a financial year.
Deposits
may be made till completion of 14 years from the date of opening of the
account, the notification said. The account shall mature on completion of 21
years from the date of opening of the account or if the girl gets married
before that.
Withdrawals
up to 50% will be allowed prior to maturity for high education and marriage.