The Government of India has constantly tried to diminish gender disparity and provide young girls with opportunities that help them grow and flourish. To inch that dream closer to reality, the Government of India launched the Sukanya Samriddhi Yojna or often abbreviated as SSY.
What is the Sukanya Samriddhi Yojna?
The Sukanya Samriddhi Yojna is a scheme that aims to be a saving scheme. This scheme essentially is an upliftment scheme and births the idea of creating a sound financial future for girls in the minds of the parents.
The scheme sees its origins in the year 2015 and was launched by Prime Minister Narendra Modi. This scheme was a part of a larger campaign that goes by the name, “Beti Bachao Beti Padhao” which translates to “Save daughter, teach daughter.”
Key features of the scheme
This savings account can be opened for a girl child anytime between the birth of the girl child and the time she turns 10 years of age. This account can be opened by the parent or the guardian of the child.
The scheme offers only one account per girl child. In cases of triplets, parents can open a maximum of two accounts for their children. The most important feature of the scheme is that it can be transferred anywhere in India.
The account basically needs a minimum of ₹250 to be deposited in the account to begin with. After this, the account deposits can be in multiples of ₹100. The maximum deposit of the account is ₹150,000.
This is a great initiative by the government of India towards imparting avenues for financial independence to women all over India, especially those from the rural parts of the country, whose financial independence relied on traditional regressive values.