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Govt cuts minimum yearly deposit for Sukanya Samriddhi account to Rs 250

The government has reduced the minimum annual deposit requirement for accounts under the girl child savings scheme - Sukanya Samriddhi Yojana to Rs 250 from Rs 1,000.  The maximum amount that can be deposited in a year is Rs 1.5 lakh. The government amended the Sukanya Samriddhi Account Rules, 2016 to state that the minimum initial deposit to open the account would be Rs 250. Sukanya Samriddhi scheme was launched in 2015. Till November 2017, more than 1.26 crore accounts were opened securing an amount of Rs 19,183 crore. Under the scheme, a parent or legal guardian can open an account in the name of the girl child until she attains the age of ten years. The account can be opened in any post office branch and designated public sector banks and will be valid for 21 years.

Read More at Business Today News date : 23 Jul 2018, Monday

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