This post is written by Shiv Kukreja, who is a Certified Financial Planner and runs a financial planning firm, Ojas Capital in Delhi/NCR. He can be reached at skukreja@investitude.co.in
RBI on March 11 issued a Circular to the authorised commercial banks to start observing the rules and regulations of Sukanya Samriddhi Yojana as per the Government of India Notification dated December 2, 2014. This circular has been marked to the Chairman & Managing Directors (CMDs) and Managing Directors (MDs) of some of the commercial banks operating in India.
These banks include most of the public sector banks, including State Bank of India (SBI), Bank of Baroda (BoB) and Punjab National Bank (PNB) and a few private sector banks also, including Axis Bank and ICICI Bank.
RBI has instructed these banks to approach Central Account Section, Reserve Bank of India, Nagpur for necessary arrangements to report Sukanya Samriddhi Account transactions with immediate effect. I think it means the RBI wants these banks to start opening accounts under this scheme without any further delays and the subscribers will not have to wait more to open their accounts. They can now approach these authorised banks to open an account.
Though it is still not clear if only these banks would act as the agency banks to open accounts under this scheme or some other banks would also join in, but it seems the following 28 banks would definitely be among all those banks authorised to open Sukanya Samriddhi Accounts (SSA).
Updated List of Banks to Open Sukanya Samriddhi Yojana Accounts
- State Bank of India (SBI)
- State Bank of Patiala (SBP)
- State Bank of Bikaner & Jaipur (SBBJ)
- State Bank of Travancore (SBT)
- State Bank of Hyderabad (SBH)
- State Bank of Mysore (SBM)
- Allahabad Bank
- Andhra Bank
- Axis Bank
- Bank of Baroda (BoB)
- Bank of India (BoI) – Branches; Contact – 022-40919191 / 1800 220 229
- Bank of Maharashtra (BoM)
- Canara Bank
- Central Bank of India (CBI)
- Corporation Bank
- Dena Bank
- ICICI Bank
- IDBI Bank
- Indian Bank
- Indian Overseas Bank (IOB)
- Oriental Bank of Commerce (OBC)
- Punjab National Bank (PNB) – Website Link; Contact – 011-25744370
- Punjab & Sind Bank (PSB)
- Syndicate Bank
- UCO Bank
- Union Bank of India
- United Bank of India
- Vijaya Bank
RBI also issued a specimen of application form and the passbook for opening an account under this scheme. Unlike the post office application form, this application form would be applicable just for this scheme only.
Here you have the specimen of the application form which the authorised banks/post offices will be using for opening Sukanya Samriddhi Accounts – Application Form
Also, here you have the specimen of the passbook which the authorised banks/post offices will be issuing to the parents/legal guardian of the girl child – Passbook
You can also refer to the following posts for the complete details about this scheme:
Sukanya Samriddhi Yojana – Tax-Free Small Savings Scheme for a Girl Child
Sukanya Samriddhi Yojana – Application Form & List of Banks to Open an Account
Sukanya Samriddhi Yojana – Calculating Maturity Value after 21 Years
Sukanya Samriddhi Yojana – Sample Filled Application Form
If any of you have anything to share or ask about this scheme, please let us know.
I have a Sukanya Samridhi Account in Sibpur P.O., can I transfer this Account to SIBPUR, SBI, Branch in Howrah, West Bengal. Kindly let me know the procedure
Yes Subhas, you can transfer your account. You need to check the procedure from the SBI branch.
Dear Sir
Please tell can we transfer funds to SSY account through netbanking.
Hi Amol,
Some banks are offering online transfer facility.
Dear sir
I belong to madhubani bihar, sir there is a sbi branch in babubarhi which nearby with my home, refused to open sukanya samridhi yojna. As per them they dont have any information yet so can you please tell me where can I open this account in babubarhi madhubani.
Sorry Anil, we do not have any such info about SBI branches opening these accounts in Madhubani. You can approach a post office also to open this account.
Hi,
I have 2 daughters, I am having PFF accounts of both daughters in SBI, in which father is guardian and also want to open Sukanya Samriddhi Yojana Account for my daughters with their Mother as guardian. Is it ok, as the SBI bank says that they cannot open the Account with Mother as guardian.
Please Advice.
Also please let me know that u/s 80 C, apart from PPF saving of 1.5 lac how much extra benefit can i get for 1 daughter.
Thanks and Regards
Hi Tarun,
1. I don’t think there is any restriction for the mother to be a guardian in this account.
2. 80C limit is Rs. 1.5 lakh, so you cannot claim more than Rs. 1.5 lakh for tax deduction with this scheme.
Hi, I have done all the formalities for opening the account with Axis Bank, JM Road branch mid of May and after much escalation, the Nodal officer of the Bank has given me a number saying that its my daughter’s account.
But no official welcome letter, no mechanism to monitor the funds, no customer id etc. no mechanism to transfer funds, basically no facility to know where is the money and what is happening to the account.
More so, bank is not able to access the account and the amount I had originally deposited with the Bank is also not visible anywhere.
I wish to transfer the funds to SBI, what is the procedure? As there is no cheque book etc. Also, does SBI offer online facility on the same account? Will I be able to set SI with the account?
Any information will help.
Thanks.
Hi Kumar,
It is not pleasant to read your case. I do not expect such a careless handling of account by Axis Bank. But, you should wait some more time to get things settled. You should keep proof of deposit with you, ask for your account statement duly stamped and approach the bank after a month or so to inquire the updated status. I hope the bank will provide you with the passbook soon. In case you still want to transfer it to SBI, then you need to approach Axis Bank & SBI to initiate the transfer process.
I would like to know whether Central Bank of India Kharghar Sector 17&18
Navi Mumbai has been authorised to open Sukanya Samridhi Account.
Hi Prafull,
We do not have such details.
I want to opening sukanya samridhi youjna account in state bank of india at our home branch 03179 GEC Rewa (M.P.) for my 1st doughter Ku.Hemlata Tiwari (D.OB. 11.11.2006 ) and 2nd doughter Ku. Shristi Tiwari (D.O.B. 11.03.2014), Now I want to know this scheme fully details and benifit on this scheme, if, guardian accident, of child accidented in ascertainally before scheme maturity period.
Hi
This is fake list of authorized bank to open this account.
I visited today in ICICI secto23, Gurgaon branch and still ICICI don;t have any information yet. Surprising that how RBI is working , here on net they have shared the list of bank but no information is sent to BANK. it seems Government is working quite fast but our bureaucrat is quite slow in sending the information, wonder on RBI functionality and information
Hi Shiv,
I got the information from different website stating that NRIs can open SSY account for their daughters, pls check below website.
http://www.tflguide.com/2015/03/sukanya-samriddhi-yojana-account-review-download-form.html
Pls clarify.
Regards,
Rajendra
Hi Rajendra,
Could you please provide any quoted text or any link from this post? I could not find any reliable piece of information.
Hi Shiv,
You can look the post commented in the last of 30/04/2015.
Quote
“Maruthish April 30, 2015, 12:39 PM”
Unquote.
or give me email i can send snapshot.
Regards,
Rajendra
There is no basis of such info Mr. Rajendra. I have personally visited the post office and SBI, but they refused to open this account for an NRI.
What about the child born in India and being an NRI.
If the current status is NRI, then she is not eligible.
Hi Shiv,
I want to open SSY account in bank.I want to deposit money yearly(i.e all 12 months money at a time) instead of depositing monthly.Is that option allowde by the banks?Appreciate for your responce.
Thanks in advance.
Regards,
Murali.
Hi Murali,
You need to deposit money in SSY only once in a year, not monthly.
hi sir
I want to open sukanya samridhi account for my daughter . we all are NRI s. plesase advise whether we are eligible to open this account.
regards
preetha
Hi Preetha,
NRIs are not eligible for this account.
Dear Shiv Sir
I hv opened ssy a/c for my daughters in post office is it possible to deposite online as its not possible to go to post office each time, if yes pls share a link for same… thanks for ur help….
Hi Smita,
Post offices do not provide online transfer/deposit facility. So, you’ll have to visit your post office every time you need to make a deposit.
I have opened suknya samrudhdhi yojana for my daughters I want to deposit every month, is it possible to deposit online as its not possible to go post office every month. pls send me website link for the same if possible….
Dear Sir,
I have opened Sukanya Samriddhi Account in Punjab National Bank with Rs.2000/- but credit balance is showing Rs.0/- , I asked the bank authority, they said as it is Govt project it will be showing Zero balance but it will show in statement. Is it true.
Thanking You,
Krishnendu
Hi Krishnendu,
It is hard to digest, please talk to the bank manager for the same. It should not show zero balance.
Dear Sir,
I talked with the manager of PNB, he showed me that all the money deposited by all the SSY account holder in India is transferred to one account in the name Sukanya Samriddhi Account, but PNB can give us statement of deposited amount but in pass book it will show zero credit balance, please suggest what to do next.
Regards,
Krishnendu
Hi Krishnendu,
Just get the statement issued by the bank & check whether it is getting credited or not. There is no reason to panic though as they must be doing it in the right manner.
I have Open an Account Under Sukanya Samriddhi Yojna in PNB , Vadodara. But Even After One Month Bank Had Not Issue Pass Book Bank had given Only Statement of transaction.Manager had Told Me That only Statement Are Given Under This Scheme. I Want To know That Bank Is Issue Passbook Or Not Under this Scheme.
Hi Pradeep,
Though the banks are issuing passbooks, I think as it is a new scheme, PNB will take its own time to issue passbooks to its customers.
I have tried to open SSY account in SBI branch at Anantapur main branch located in andhra pradesh but they refused to open the account. What they said ‘ they are not yet received any intructions from RBI to open SSY account’. Help us to locate the bank and branch to open the account.
Sorry Madhav,
We do not have the list of SBI branches which are opening these accounts. So, you need to contact SBI customer care to find out the nearest servicing branch for these accounts.
Any update on SBM, Can we open in State Bank of Mysore?
Hi Senthil,
We do not have any update about it.
Is there a way to escalate this issue to RBI or PM office? It will be easy if bank handle this scheme than post office.
Hi Senthil,
I have no idea about the right channel of approaching the RBI or the government in such matters. Moreover, I think approaching RBI/PMO won’t help you either in this matter.
https://www.rbi.org.in/Scripts/helpdesk.aspx
This is one entry to check with RBI. Lets all post a question here. there might be some action.
Thanks for sharing this link Senthil, I hope it helps people here and the RBI takes certain steps to direct banks to launch this scheme as soon as possible.
Ssy scheme has started in Allahabad bank in Chennai or not ..please reply me because my bank people telling still I haven’t got any notice to open ssy account. Thanks sir
Hi Anjali,
We have no idea whether Allahabad Bank in Chennai is opening these accounts or not.
In kamothe,navi Mumbai which bank is ready to open ssy account.idbi bank not ready.
We have no idea which bank branch is opening SSY accounts in Kamothe.
In kamothe,navi Mumbai idbi bank is not ready to open ssy account they says me they had not got any instruction.so they are not ready to open ssy account.but you are saying idbi bank open ssy account .I ask manager 4 to 5 times about ssy account.but not proper response
You should go to some other branch of IDBI Bank or try some other bank.