RESERVE BANK OF INDIA
RBI/2014-15/494
IDMD(DGBA).CDD.No.4052/15.02.006/2014-15
March 11, 2015
Dear Sir/Madam,
Sukanya Samriddhi Account
We forward herewith a copy of the Government of India
Notification No. G.S.R.863(E) dated December 02, 2014 regarding the Sukanya
Samriddhi Account for necessary action at your end. The Government of India,
vide this Notification, has notified the Sukanya Samriddhi Account Rules, 2014,
which came into force with effect from December 02, 2014.
2. Reporting of the Sukanya Samriddhi Account transactions
i.e. receipt, payment, penalty, etc. may be directly done through the
Government Account at Central Account Section, Reserve Bank of India, Nagpur on
daily basis like the transactions of PPF, 1968, in order to have uniformity in
reporting, reconciliation and accounting.
3. The Agency banks are required to observe the rules and
regulations of the Scheme, and non-observance of rules and regulations would
attract penal action, including de-authorization of the branch or bank.
Pecuniary liabilities, if any, arising from such non-observance shall be borne
entirely by the bank.
4. You may, therefore, approach Central Account Section,
Reserve Bank of India, Nagpur for necessary arrangements to report Sukanya
Samriddhi Account transactions with immediate effect.
5. Specimen of account opening application form and the
passbook of the Sukanya Samriddhi Account are also enclosed for ready reference
and necessary action at your end.
6. The contents of this circular may be brought to the
notice of the branches of your bank operating the PPF, 1968 Scheme. These
instructions should also be displayed on the notice boards of your branches for
information.
Yours
faithfully
(R.
K. Singh)
Deputy
General Manager
FORM SSA-1
APPLICATION FOR OPENING
AN ACCOUNT UNDER ‘SUKANYA SAMRIDDHI ACCOUNT’
To,
The
Postmaster /Manager
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Sir,
I .............................(name of parent/guardian)
hereby apply for opening
an account under ‘Sukanya Samriddhi Account’ scheme, ......... in the name of
Kumari.................................
........................................ of whom I am the guardian and tender
herewith Rs........................../-
(Rs......................................................................) in
cash/Cheque/DD.No..................... date.......... as initial subscription.
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1.
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Name of Account holder (girl child)
Ku
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...............................................................
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2.
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Daughter of (father /mother’s name)
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...............................................................
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3.
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Date of Birth
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...... .....
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(DD / MM / YYYY)
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(In
words)
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...............................................................
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4.
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Details of Birth Certificate
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...............................................................
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(copy may plea se be enclosed)
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a)
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Certificate No.
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...............................................................
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b)
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Date OF Issue
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...............................................................
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c)
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issuing authority)
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...............................................................
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5.
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Name of Parent / Guardian
(Operating the account on behalf of the minor girl child)
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...............................................................
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6.
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ID details of parent/guardian
(copy may please be enclosed )
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a)
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Certificate No.
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...............................................................
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b)
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Date OF Issue
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...............................................................
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c)
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issuing authority)
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...............................................................
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7.
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Address
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(Present)
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...............................................................
...............................................................
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(Permanent)
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...............................................................
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8.
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Details of other KYC documents attached
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...............................................................
...............................................................
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I hereby undertake to abide by the provisions / rules of
the ‘Sukanya Samriddhi Account’ and amendments issued thereto from time to
time.
I hereby declare that I have not opened OR maintaining
any other account under the same scheme
in the name of .....................................
(Name of girl child) in any other Post Office or Bank.
Signature
or thumb impression of Parent/guardian
Additional
Specimen signatures
For use of Post Office/Bank
The account has been opened in the name of
Ku....................................... on.......................... with
Rs................................. ............. Under ‘Sukanya Samriddhi
Account’ scheme.
Signature
and seal of competent authority.
MINISTRY OF FINANCE
(Department of Economic Affairs)
NOTIFICATION
New Delhi, the 2nd December, 2014
G.S.R.863(E).— In exercise of the powers conferred by
section 15 of the Government Savings Banks Act, 1873 (5 of 1873) , the Central Government
hereby makes the following rules, namely:-
1.Short title and commencement .- (1) These rules may be
called the Sukanya Samriddhi Account Rules,2014.
(2)They shall come into force on the date of their
publications in the Official Gazette.
2.Definitions .- In these rules, unless the context
otherwise require , -
(a)‘account’ means an account opened by a depositor in
accordance with the provisions of these rules;
(b)‘Act’ means the Government Savings Banks Act, 1873 (5
of 1873) ;
(c)‘deposit’ means the money deposited by the depositor
in an account under the rules;
(d)‘Depositor’ means an individual who - on behalf of a
minor girl child of whom he or she is the guardian, deposits money in an account
under the rules;
(e)‘post office’ means any post office in India doing
savings bank work and authorised to open an account under these rules;
(f)‘Bank’ means any branch of a commercial bank authorised by
the Central Government to open an account under these rules;
(g)‘Year’ means financial year i.e. 1st April to 31st
March;
(h)‘Interest rate’ means the rate as may be declared by the Government on
yearly basis to be applicable on accounts opened under these rules;
(i)Words and expressions used herein and not defined but
defined in the Post Office Savings Bank General Rules, 1981 shall have the
meanings respectively assigned to them in those rules.
3. Application of Post Office Savings Bank General Rules, 1981 and the
Post Office Savings Account Rules, 1981.-
The provisions of the Post Office Savings Bank General
Rules, 1981 and the Post Office Savings Account Rules, 1981 may be applied in
relation to matters for which no provision has been made in these rules.
4. Opening of Account.-
(1) The account may be opened by the natural or legal guardian in the name of a
girl child from the birth of the girl child till she attains the age of ten
years and any girl child, who had attained the age of ten years, one year prior
to the commencement of these rules, shall also be eligible for opening of the
account under these rules.
(2)A depositor may open and operate only one account in
the name of a girl child under these rules.
(3)Birth certificate of a girl child in whose name the
account is opened shall be submitted by the guardian at the time of opening of
the account in post office or bank along with
other documents relating to identity and residence proof of the
depositor.
(4)Natural or legal guardian of a girl child shall be
allowed to open the account for two girl children only:
Provided that the natural or legal guardian of the girl
child shall be allowed to open third account in the event of birth of twin
girls as second birth or if the first birth itself results into three girl
children, on production of a certificate to this effect from the competent
medical authorities where the birth of such twin or triple girl children takes
place.
5. Deposits .- (1) The account may be opened with an initial deposit of
one thousand rupees and thereafter any amount in multiple of one hundred rupees
may be deposited subject to the condition that a minimum of one thousand rupees
shall be deposited in a financial year but the total money deposited in an
account on a single occasion or on multiple occasions shall not exceed one lakh
fifty thousand rupees in a financial year.
(2)Deposits in an account may be made till completion of
fourteen years, from the date of opening of the
account.
(3)An irregular account where minimum amount as specified
in sub-rule (1) has not been deposited may be regularised on payment of a
penalty of fifty rupees per year along with the said minimum specified
subscription for the year (s) of default any time till the account completes
fourteen years.
6. Mode of Deposit .- (1) The deposit in the account opened under these rules
may be made -
a) in cash; or
b) by cheque or demand draft drawn in favour of the
postmaster of the concerned post office or the
Manager of the concerned bank where the account stands
and an endorsement on the back of such instrument shall be made and signed by
the depositor indicating name of the account holder and account number in which
the deposit is to be credited.
(2)Where deposit is made by cheque or demand draft, the
date of encashment of the cheque or demand draft shall be the date of credit to
the account.
7. Interest on deposit .- (1) Interest at the rate, to be notified by the
Government, compounded yearly shall
be credited to the account till the account completes
fourteen years.
(2)In case of account holder opting for monthly interest,
the same shall be calculated on the balance in the account on completed
thousands, in the balance which shall be paid to the account holder and the
remaining amount in fraction of thousand will continue to earn interest at the
prevailing rate.
8.Operation of account .- (1) The account shall be opened and operated by the
natural or legal guardian of a girl child till the girl child in whose name the
account has been opened, attains the age of ten years.
(2)On attaining age of ten years, the account holder that
is the girl child may herself operate the account, however, deposit in the
account may be made by the guardian or any other person or authority.
9.Premature closure of account .- (1) In the event of death of the account holder,
the account shall be closed immediately on production of death certificate
issued by the competent authority, and the balance at the credit of the account
shall be paid along with interest till the month preceding the month of
premature closure of the account , to the guardian of the account holder.
(2)Where the Central Government is satisfied that
operation or continuation of the account is causing undue hardship to the
account holder, it may, by order, for reasons to be recorded in writing, allow
pre-mature closure of the account only in cases of extreme compassionate
grounds such as medical support in life- threatening diseases, death, etc.
10. Pass book .-
(1) On opening an account, the depositor shall be given a pass book bearing the
date of birth of the girl child, date of opening of account, account number,
name and address of the account holder and the amount deposited.
(2) The pass book shall be presented to the post office
or bank, as the case may be, at the time of depositing money in the account and
receiving payment of interest and also at the time of final closure of the
account on maturity.
11.Transfer of account .- The account may be transferred anywhere in India if the
girl child in whose name the account stands shifts to a place other than the
city or locality where the account stands.
12.Withdrawal .-
(1) To meet the financial requirements of the account holder for the purpose of
higher education and marriage, withdrawal up to fifty per cent. of the balance
at the credit, at the end of preceding financial year shall be allowed.
(2) The withdrawal referred to in sub-rule (1) shall be
allowed only when the account holder girl child attains the age of eighteen
years.
13. Closure on maturity .- (1) The account shall mature on completion of
twenty-one years from the date of opening of the account :
Provided that where the marriage of the account holder
takes place before completion of such period of twenty- one years, the
operation of the account shall not be permitted beyond the date of her marriage
:
Provided further that where the account is closed under
the first proviso, the account holder shall have to give an affidavit to the
effect that she is not less than eighteen years of age as on the date of
closing of account.
(2) On maturity, the balance including interest
outstanding in the account shall be payable to the account holder on production
of withdrawal slip along with the pass book.
(3) If the account is not closed in accordance with the
provisions of sub-rule (1), interest as per the provisions of rule 7 shall be
payable on the balance in the account till final closure of the account.
14. Power to relax .-
Where the Central Government is satisfied that the operation of any provision
of these rules causes undue hardship to the account holder or account holders,
it may, by order and for reasons to be recorded in writing, relax the
requirements of that provision in a manner not inconsistent with the provisions
of the Act.
[F.
No.2/3/2014.NS-II]
Dr.
RAJAT BHARGAVA, Jt. Secy.
By: Pramod Tatkare/*
