SSY – Government of India made these changes in Sukanya Samriddhi Account, know full details about them

Friends, if you are the parents of a daughter, then this news is very important for you, because the government has issued an important update for those who have opened Sukanya Samriddhi Yojana (SSY) account, the Department of Economic Affairs has issued new guidelines to regularize such accounts. These new rules will come into effect from October 1, 2024.

Only legal guardians (ie parents) can open or manage SSY accounts. If your account is opened by someone else - such as grandparents - then action should be taken to transfer it to the name of the right guardian, otherwise the account may be closed, let's know full details about it

Who should take action?

If grandparents or great-grandparents have opened an SSY account for a girl child, it should be transferred to the name of the parents.

This transfer should be completed before October 1, 2024 to avoid any risk of account closure.

Documents required for transfer

Original SSY account passbook – containing transaction and account details.

Birth certificate of the girl child – proof of age and identity.

Proof of relationship – documents showing relationship to the child (e.g., family tree, legal affidavit).

Guardian’s identity card – official identification of the parents (e.g., Aadhaar card).

Duly filled application form – available at the post office or bank where the account was initially opened.

Step-by-step transfer process

Visit the bank/post office

Visit the branch where the SSY account was originally opened.

Inform the officials

Tell them that you wish to transfer the account as per the new rules.

Fill the transfer form

Get the prescribed form and complete it. Both the current and new guardians must sign it.

Submit documents

Provide all the required documents along with the filled form.

Verification and update

The bank/post office staff will verify all the documents and may ask for additional proof if needed.

After verification, the account will be officially updated in the name of the parents as the legal guardians.