The Role of Guardian in SSA or SSY

 

Sukanya Samriddhi Account has come as a respite for many girl children in India from different caste, religion and sections of society.  Launched under Sukanya Samriddhi Yojana by the honorable Prime Minister of India, the account promises a secure future for the girl child in which the proceed money would be used for marriage and higher education of the girl child.

With such schemes, girl child in India would no longer be a burden on parents and guardians.  The account can be opened for any girl child in India who is below the age of 10 years.

After the auspicious scheme has been launched, a lot of internet users have poured in with various querries pertaining to Sukanya Samriddhi Account.  One of the most common querries has been the role of guardian in various aspects of Sukanya Samriddhi Account.  We will cover this subject in this article.

Who would be the Guardian of Sukanya Samriddhi Account?

The guardian or the depositor of Sukanya Samriddhi Account could be either of the parents or the legal guardian.  At the time of opening of the account, proof of identity and address would be required of the depositor or legal guardian, who would be solely liable to run and maintain the account until the girl attains an age of 10 years.

What is meant by Legal Guardian in Sukanya Samriddhi Account?

The role of legal guardian in Sukanya Samriddhi Account would only come in picture wherein either both the parents are dead or not capable of opening or running the account.  While opening of the account, the legal guardian would possibly have to submit an affidavit or proof that he/she is the sole guardian of the girl child and that he/she would abide by the norms set under Sukanya Samriddhi Account.

Documents required by legal guardian in SSA

As said in the earlier paragraph, the legal guardian may have to submit necessary document confirming that he/she is the legal guardian of the girl child and that the parents are not in a condition to become the contributor of the account.

Along with this, the guardian of SSA would have to furnish sufficient proof of identity and address proof as in case of normal opening of the account.

What if legal guardian dies during the course of SSA

The legal guardian would be the sole depositor of SSA under the scheme.  However, in circumstances where the legal guardian is dead or in no more condition to run the account, the following conditions would apply:

  1. If the girl is still below the age of 10 years and parents are alive, parents may continue to operate the account with necessary permissions from the authorities.
  2. If the girl is still below the age of 10 years and even the parents are dead, the proceeds along with the authority may be given to the care taker of the girl child, as is the case. The care taker would have to furnish adequate documents in this case.
  3. If the girl is above 10 years and parents are alive, the girl child has full authority to operate the account.
  4. If the girl is above 10 years and parents are not alive, it would be on the discretion of the girl child whether she would like to continue with the account or not.

In case if she wants to discontinue the account, the accumulated amount would be handed over to her on furnishing necessary documents and on satisfaction of the officials.

Sukanya Samriddhi Yojana is a fairly new scheme launched in 2015.  All post office branches and a number of banks have been assigned the responsibility of opening Sukanya Samriddhi Account.  While opening of accounts has already started in post offices, most of the banks are yet to start the operation.

In this article, we have tried to furnish information as accurate as possible from our end.  We however to not hold any responsibilities for any changes that have/may happen pertaining to Sukanya Samriddhi Yojana.

Other Important Articles

  1. Interest Rate in SSA
  2. Sample Form of SSA

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