Business News Desk – Do you also have an old Sukanya Samriddhi Yojana account? Which was opened by grandparents. The government can close such Sukanya Samriddhi account of yours. If you have an old Sukanya Samriddhi Yojana (SSY) account, then there is a relief news for you. The Department of Economic Affairs has recently issued new guidelines, which will come into effect from October 1, 2024. These rules are to regularize those savings accounts which were opened wrongly. They have to be transferred to your name before the 1st date.
Have grandparents opened Sukanya Samriddhi accounts?
Now if grandparents have opened SSY accounts for their granddaughters, then they will have to follow the new rules. Earlier grandparents used to open these accounts for their grandchildren, but according to the new guidelines, now only legal guardians (parents) can open and close the accounts. Such old accounts will have to be transferred to the name of the parents.
These documents will be required to correct old accounts:
Basic Account Passbook: It contains all the account details.
Birth Certificate of Girl: Proof of age and relationship of the girl.
Proof of relationship with the girl: Birth certificate or any other legal document.
Proof of identity of the new guardian: Government ID card of the parent or guardian.
Duly filled application form: This form will be available at the post office or bank where the account has been opened.
How to transfer:
First of all go to the post office or bank where the account was opened.
Inform the authorities about transferring the account to the guardian as per the new guidelines.
Fill out 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.
Verification and Updates:
After submitting the form and other documents, the bank or post office staff will review and verify the request. They may also ask for additional information if needed. Once the verification is complete, the account records will be updated with the new parent’s information.
