BANKING AFFAIRS

Detailed explanation-1: -The scheme was launched by Prime Minister Narendra Modi on 22 January 2015 in Panipat, Haryana. The accounts can be opened at any India Post office or a branch of some authorised commercial banks.

Detailed explanation-2: -Sukanya Samriddhi Yojana was launched as part of the Beti Bachao Beti Padhao Campaign on January 22, 2015 by Prime Minister Narendra Modi. The objective was to encourage families to invest in the education of girl children and save for their marriage expenses.

Detailed explanation-3: -The government backed savings scheme for girls, Sukanya Samriddhi Yojana interest rate of 7.6%, for the quarter ending March 31, 2022. These accounts will be valid for a period of 21 years or till the girl child turns 18 and is married. Parents can open up to two such accounts for their daughters.

Detailed explanation-4: -Sukanya Samriddhi Scheme account was launched in Jan 2015 and initially the interest rate was set at 9.1% for FY 2014-15. In late March 2015 the rate of interest for SSY Account was revised to 9.2% for FY 2015-16.

Detailed explanation-5: -What is Sukanya Samriddhi Yojana? Sukanya Samriddhi Yojana is a saving scheme by Government of India, which is aimed at the betterment of girl child in India. It is launched to help parents build a fund for the higher education and other expenses of their girl child.