📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

    Question

    Which of the following statements accurately describes

    the eligibility criteria for opening a Sukanya Samridhi Account (SSA)?   Read the passage below and answer the following questions based on the passage ( Q no 27 to 30) Saving for a girl child has become a key priority for many parents in India, driven by both financial security and a growing awareness of the importance of gender equality in education and opportunities. In a country where cultural norms have historically favored investing in male children, there has been a significant shift in perspective. Parents now recognize the need to ensure that their daughters have the financial backing to pursue education, build careers, and lead independent lives. One of the primary reasons parents focus on savings for their girl child is the rising cost of education. In today's competitive world, access to quality education has become essential for future success. Parents often begin saving early to ensure that their daughters can attend good schools, pursue higher education, or even study abroad. Whether it is securing funds for college, professional courses, or vocational training, these savings provide the foundation for a girl’s future empowerment and career opportunities. Another important factor driving parents to save for their daughters is the need to provide for future financial security, including marriage-related expenses. In India, marriage is still considered a major life event, and parents often feel the responsibility to bear the significant financial costs associated with it. Although these expenses can be high, saving early helps reduce the burden on families and ensures that their daughters can have the financial support they need for this important milestone, should they choose to marry.
    A The account can be opened for a girl child up to the age of 14 years. Correct Answer Incorrect Answer
    B Only one account can be opened for a girl child. Correct Answer Incorrect Answer
    C The account can be opened in the name of a boy child if he is the only child in the family. Correct Answer Incorrect Answer
    D The account can be transferred to another girl child in the family if the original account holder passes away. Correct Answer Incorrect Answer
    E The minimum initial deposit required to open an SSA is ₹1,000. Correct Answer Incorrect Answer

    Solution

    The SSA can be opened for a girl child up to the age of 10 years. Only one account is allowed per girl child. The account cannot be opened for a boy child, even if he is the only child. The account is non-transferable. The minimum initial deposit required is ₹250.

    Practice Next
    More Economic planning and Reforms Questions
    ask-question