There will be big changes in the rules of Sukanya Samriddhi Scheme from October 1, Know the full news

Sukanya Samriddhi Scheme: The Sukanya Samriddhi Yojana (SY) guidelines will undergo a significant modification starting on October 1, 2024. According to the new regulation, the extra account will be canceled if there are more than two. Allow us to explain: the goal of these guidelines is to fix the irregularities that occurred when the account was created. In order to adhere to the fundamental principles of the program, accounts that were not created by the natural or legal parents must now voluntarily transfer guardianship. As a symbol of their financial stability, grandparents used to often create Sukanya accounts for their granddaughters. The plan, however, mandates that these accounts may only be opened and maintained by the natural parent or legal guardian.

What is the plan?

You may establish a Sukanya Samriddhi Account at any post office or bank branch that has been approved. This account may be started at the daughter’s birth or up to the age of ten. A minimum of Rs 1000 and a maximum of Rs 1.5 lakh must be deposited in a single financial year at the time the account is opened. We should inform you that this is a government initiative. This programme was launched as part of the Modi government’s Beti Bachao, Beti Padhao initiative. At present, Sukanya Samriddhi Yojana has an interest rate of 8.20%. Let us inform you that a minimum of merely Rs 250 is required to start a Sukanya account. The account is scheduled to mature after 21 years from the date of inception.

Records needed to create an account

For parents or guardians, an Aadhaar card, PAN card, passport, voter ID card, or any other identification document issued by the government is acceptable evidence of identity. To verify the identification of the individual establishing the account, several papers are required.

• Account opening form for Sukanya Samriddhi Yojana.
• The adult’s birth certificate.
• A picture of the adult’s parent or legal guardian.
• KYC papers, which serve as the parent or guardian’s evidence of identification and residence.