Recently Sukanya Samriddhi saving account scheme was launched by Mr. Modi in India. The scheme is launched to help the girl child up to the age of 10 years. It has been reported that 20,000 such savings account are planned to be opened soon. These accounts can be opened by the girl child up to 10 years of age with an initial deposit of Rs 1000.
Maximum deposit allowed is Rs 1.5 lakh in a financial year. The rate of interest would be 9.1 per cent, 0.4 per cent more than General Provident Fund and partial withdrawal would be allowed when the account holder attained the age of 18 years and the account could be closed after 21 years.
This scheme will assist the people in safely saving their earnings which could be utilized later. A camp will be organized across the various schools regarding the scheme where various pamphlets describing the scheme will be distributed.