Solution

The Sukanya Samriddhi Account (SSA) Scheme is a small deposit scheme of the Government of India meant exclusively for a girl child. It was launched by Prime Minister Narendra Modi on 22nd January 2015 as a part of Beti Bachao Beti Padhao campaign. The scheme is meant to meet the education and marriage expenses of a girl child. Notified by the Government of India on 14 December 2014, this scheme encourages parents to build a fund for the future education and marriage expenses of their female child. It is operated through the all Post Offices, branches of Public Sector Banks and three Private Sector Banks viz. HDFC Bank, Axis Bank and ICICI Bank. At present, the SSA Scheme has the highest rate of interest among all the Small Savings Schemes i.e. 7.6 per cent. Since the inception of the scheme, around 2.73 crore accounts have been opened under the scheme, having nearly Rs.1.19 lakh crore deposits. •The account can be opened in the name of a girl child till she attains the age of 10 years. •Only one account can be opened in the name of a girl child. •Accounts can be opened in Post Offices and notified branches of Commercial Banks. •The birth certificate of a girl child in whose name the account is opened shall be submitted. •The account may be opened with a minimum initial deposit of two hundred and fifty rupees and in multiples of fifty rupees. •Only one account is allowed per child.