Postal Department to open 1 crore savings accounts for girl child by March 31

NEW DELHI: The postal department will be looking at opening 1 crore small savings accounts for the girl child by March 31 as part of the ' Beti Bachao Beti Padhao' campaign, Communications and IT Minister Ravi Shankar Prasad said today.

"The postal department has decided to open 1 crore ' Sukanya Samridhi Account' by March 31," Prasad said here.

'Sukanya Samridhi Account' can be opened at any time from the birth of a girl child till she attains the age of 10 years, with a minimum deposit of Rs 1,000. A maximum of Rs 1.5 lakh can be deposited during the financial year.

The account can be opened in any post office or authorised branches of commercial banks.

In an effort to motivate parents to open an account in the name of a girl child, higher rates of interest at 9.1 per cent is proposed to be given on the deposits.

The account will remain operative for 21 years from the date of opening of the account or marriage of the girl child after attaining 18 years of age.