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  • RBI Rules for Sukanya Samriddhi Account Opening

    Everything about RBI rules for Sukanya Samriddhi Account opening

    The Reserve Bank of India recently published a notification regarding account opening with Sukanya Samridhi scheme. The notification called Government of India Notification No. G.S.R.863 (E) dated December 02, 2014 contains all the important rules regarding Sukanya Samriddhi Account Opening. The rules included in the notification came into effect in December, 2014.

    Sukanya Samriddhi Account Rules

    The rules announced by the Reserve Bank of India and included in the notification include:

    • Anything related to Sukanya Samridhi Account opening such as transactions, payment , penalty may be directly done through the Government Account of the Reserve Bank of India located in Nagpur.
    • The agency banks offering this scheme are requested to observe the rules and regulation of the Sukanya Samridhi scheme and. Any violation or non-observance of the rules will lead to penalty which would include including de-authorization of the branch or bank. The penalty would be borne by the concerned bank.
    • The participating banks can approach the Central Account Section of Reserve Bank of India, Nagpur branch for required arrangements to report Sukanya Samriddhi Account transaction with immediate effect.
    • Copy of Sukanya Samriddhi Account opening form and passbook of the account also attached with the notification for reference and necessary action.

    All the information stated in the notification should be displayed on the notice board of concerned banks. All participating banks should be aware of the contents included in the circular.

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