SSY: Do you also have an old Sukanya Samriddhi Yojana account? The Department of Economic Affairs has recently issued new guidelines to regularize irregularly opened savings accounts under NSS
SSY: Do you also have an old Sukanya Samriddhi Yojana account? The Department of Economic Affairs has recently issued new guidelines to regularize irregularly opened savings accounts under NSS. The government has issued new rules for Sukanya Samriddhi Yojana (SSY). These rules will come into effect from October 1, 2024 and are being done to remove the mistakes found in the opening of accounts.
New rules for Sukanya Samriddhi accounts opened by grandparents
An important update in the guidelines relates to accounts opened by grandparents under Sukanya Samriddhi Yojana. As per the new rules, accounts which are not opened by legal guardians or natural parents will now have to make mandatory transfer of guardian to comply with the basic guidelines of the scheme. Earlier, grandparents often opened SSY accounts for their granddaughters as a financial security. However, only the legal guardians or natural parents can open and close these accounts as per the scheme guidelines.
Documents required to close or transfer the old account
- Basic account passbook: Contains all the details of the account.
- Girl’s birth certificate: Proof of age and relationship.
- Proof of relationship with the girl: Birth certificate or other legal documents that establish the relationship.
- Proof of identity of the new guardian: Government-issued identity card of the parent or guardian.
- Fully filled application form: Which will be available at the post office or bank where the account is opened.
After the documents, the first person should go to the post office or bank where the account was opened. They should inform the officials about the need to transfer the account to the guardian as per the new guidelines. After this, they have to fill the transfer form provided by the bank or post office. Both the existing account holder (grandparent) and the new guardian (parent) must sign this form.
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Verification and Update
After submitting the form and supporting documents, the bank or post office staff will review the request and process the verification. They may also ask for additional information if required. Once the verification is complete, the account records will be updated with the new guardian’s information.
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