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    Question

    Which savings-cum-pension scheme targeting minors was

    introduced by the Ministry of Finance in September 2024?
    A BAL VIKAS Correct Answer Incorrect Answer
    B SUVIDHA Correct Answer Incorrect Answer
    C NAVNIRMAN Correct Answer Incorrect Answer
    D YUVA YOJANA Correct Answer Incorrect Answer
    E NPS VATSALYA Correct Answer Incorrect Answer

    Solution

    Launched by Union Finance Minister Nirmala Sitharaman, the National Pension System Vatsalya (NPS Vatsalya) is designed to secure the financial future of minors. The scheme requires an initial contribution of Rs 1,000 with subsequent annual contributions, aiming to provide a structured pension for children once they reach adulthood. This extension of the existing National Pension System caters exclusively to minors with an investment mechanism in place until they turn 18.

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