Balika Samridhi Yojana {बालिका समृद्धि योजना}

Updated on Aug 14, 2020

Overview

The Government of India government launched the Balika Samridhi Yojana. This scheme aims to support girls. The Prime Minister of India called for the Balika Samriddhi Yojana under Beti Bachao Beti Padhao Campaign on 21st January 2015. Under this, the Government of India contributes a large amount of money for the girls, such as higher education and marriage or for raising expenses abroad, on the submission of some simple instalments, until the girl is 18 to 21 years old. You get interested in the amount deposited by you. The account should be opened after the birth of the girl until she turns ten years old. The minimum amount for depositing is INR 1,000. 

The maximum deposit amount for a year is INR 1.5 lakh. There is a provision of 8.1 per cent interest on current deposits and provides an income tax benefit. Balika Samriddhi Yojana account can be opened in any post office or authorized branches of commercial banks. With the opening of the report, the girl is employed until she attains the age of 21 years or till her marriage. To meet the requirement of her higher education expenses, a partial refund of 50% of the balance is allowed after the age of 18 years. 

Background

State and Central Government are running numerous schemes for the empowerment of women and girls of India. To improve the level of education of girls, the Central Government had introduced the Balika Samriddhi Yojana Details. ICDS regulates the scheme in rural areas, and the Department of Health handles the responsibility in the urban areas. This scheme is mainly made for BPL families. However, only two daughters benefit from this scheme.

Features

  • Balika Samriddhi Yojana Khata is to be opened before your daughter is ten years old. This khata is operated by the girl's natural or legal guardian in her name till she turns ten years old. 
  • When the child turns old, the girl child can operate the account herself, however, the report can be deposited by the guardian or any other person or authority.
  • In the event of the death of the account holder, on the appearance of the death certificate issued by the competent authority, the account will be closed immediately, and the balance in the account will be paid with interest.
  • Premature closure of an SSY account can be requested after completion of five years of account opening.
  • When an account is opened, the depositor is given a passbook along with the name and date of birth of the girl, the time of opening the account, address, account number, and amount deposited.
  • To meet the financial requirements of the account holder for higher education and marriage, withdrawal up to 50% balance in the credit of account is allowed.
  • If the account holder is married before completion period of 21 years, the operation of account will be considered complete on the date of his marriage.
  • If the account holder closes the account before 21 years, the account holder has to give an affidavit that he is not less than 18 years old as of the date of account closure.

Deposits

The deposits can be made in cash in the account or by check or demand draft and an endorsement behind such instrument can be signed and signed by the depositor, who Account holder name and account number to which credit is to be credited. Deposits can also be made through electronic means with banks if CBS are available in the respective post offices or banks. If the deposit is made by check or demand draft, the check or the date of deposit of demand draft is the date of credit in the account, while for e-transfer, it is the date of deposit

Interest

The amount of the deposit is compounded by compounding interest every quarter. If the account holder opts for a monthly benefit, at the end of the balance, the balance will be calculated on balance in the account, which will be paid to the account holder and the balance. The amount will continue to earn interest in a fraction of thousands. Interest will be calculated for the calendar month on minimum balance in the account of deposits made between the end of the 10th day and the end of the month.

Benefits 

Under this scheme, financial assistance is provided by the government from the birth of the daughter to her education. In this, after delivery in the rural and urban areas, the mother is given a gift of 500 rupees from the government. Under the scheme, the girl child will be given a scholarship during schooling every year. 

Required documents

  • Child's birth certificate from the hospital or government-issued birth certificate letter
  • Address proof of the parents or guardian such as passport, driving license, electricity or telephone bill, voter identity cards, ration cards or any other address proof issued by the Government of India.
  • Parents or guardian’s identification certificate such as the passport, PAN card, matriculation certificate, voter identity cards or the anything issues by the Indian government. 

Frequently Asked Questions

Q. What is Balika Samridhi Yojana?

The Government of India government launched the Balika Samridhi Yojana. This scheme aims to support girls. The Prime Minister of India called for the Balika Samriddhi Yojana under Beti Bachao Beti Padhao Campaign on 21st January 2015.

Q. How can I deposit the money?

The deposits can be made in cash in the account or by check or demand draft and an endorsement behind such instrument can be signed and signed by the depositor, who Account holder name and account number to which credit, is to be credited.

Q. Can I withdraw money from the account?

To meet the financial requirements of the account holder for higher education and marriage, withdrawal up to 50% of the balance in the credit of the account is allowed.

Q. What are the benefits of this scheme?

Under this scheme, financial assistance is provided by the government from the birth of the daughter to her education. In this, after the delivery in the rural and urban areas, the mother is given a gift of 500 rupees from the government. Under the scheme, the girl child will be given scholarship during schooling every year. 

Q. Can I close the account?

Yes, premature closure of an SSY account can be requested after completion of five years of account opening.


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WRITTEN BYVarsha Verma

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