Note4Students
From UPSC perspective, the following things are important :
Prelims level: Sukanya Samriddhi Yojana
Why in the News?
Sukanya Samriddhi Yojana (SSY) has completed 10 years on January 22, 2025. As of November 2024, over 4.1 crore SSY accounts have been opened, highlighting the scheme’s success and its role in fostering inclusivity and progress.
About Sukanya Samriddhi Yojana (SSY):
- Launched on January 22, 2015, under Beti Bachao, Beti Padhao Campaign.
- It is a small deposit scheme by the Ministry of Finance for a girl child
- Over 4.1 crore accounts opened as of November 2024.
- Aims and Objectives:
- To meet the education and marriage expenses of a girl child.
- Promote financial independence and secure futures for girl children.
Criteria and Provisions:
- Eligibility: For girl children under 10 years; max 2 accounts per family (exceptions for twins/triplets).
- Deposits: Minimum: ₹250; Maximum: ₹1.5 lakh annually; deposits for 15 years.
- Withdrawals:
- Partial: Up to 50% after age 18 or completion of 10th standard for education.
- Full: Allowed for marriage (minimum age 18).
- Interest Calculation: Monthly on the lowest balance; credited annually.
- Premature Closure: Allowed for medical emergencies or death of guardian.
- Interest: ate of interest 9.2% Per Annum (wef 1-4-2015), calculated on yearly basis, yearly compounded.
- Tax Benefits: Quarterly rates compounded annually; investments and returns are tax-free under Section 80C.
Structural Mandate and Implementation
- Managed by guardian till age 18; account matures in 21 years.
- Can be opened/transferred at post offices or banks.
- Early closure for marriage requires proof of age and marriage documents.
PYQ:[2014] What is/are the facility/facilities the beneficiaries can get from the services of Business Correspondent (Bank Saathi) in branchless areas?
Select the correct answer using the code given below: (a) 1 only (b) 2 only (c) Both 1 and 2 (d) Neither 1 nor 2 |
Get an IAS/IPS ranker as your 1: 1 personal mentor for UPSC 2024
