Which of the following statement is/are incorrect about “Sukanya Samriddhi Yojana”?

I.         Sukanya Samriddhi Account can be opened in the name of a girl child at any time from her birth till she attains the age of 15 years.

II.         There is a minimum deposit of Rs.250/- and thereafter any amount in multiple of Rs.50/- can be deposited.

III.         A maximum of Rs. 2,50,000 can be deposited in a financial year.

Solution

Explanation: 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 the Beti Bachao Beti Padhao campaign. The scheme is meant to meet the education and marriage expenses of a girl child.

• 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.
• Account can be opened in Post Offices and notified branches of Commercial Banks.
• The total amount deposited in an account shall not exceed Rs 1,50,000 in a financial year: (Provided that the deposit in excess of one lakh fifty thousand rupees in any financial year, if accepted due to any accounting error, shall not be eligible for any interest and be returned immediately to the depositor)