Under the ‘Selvamagal Saving Scheme’, over 80 Lakhs accounts have been opened so far throughout India.
Central government had started a new scheme, Sukanaya Samrithi Yojana’ (Women welfare Improvement plan) in order the check the decline in the female birth rate and also to ensure women’s higher education.
This scheme (known as Selvamagal Savings scheme in Tamil), was inaugurated by the Prime Minister Narendra Modi on 22nd January, 2015.
It was introduced under the name of ‘Selvamagal Savings Scheme’ in Tamil Nadu though the Post Offices in Fenruary, 2015.
A Chennai Metro City Postal Department official explained that Selvamagal Savings Scheme has turned out to be hugely popular. So far, over 80 Lakhs account shave been opened throughout the country.
Over 11 lakh accounts have been opened in the state of Tamil Nadu alone till last October, 2015.
The investment in the scheme so far has been around Rs. 2900 Crores throughout the country.
In a similar trend, the number of Post Office Savings Account has increased from 30.86 Cores to 33.60 Crores throughout the country.
Through these schemes and bonds, a total investment of Rs. 6.5Lakh Crore has been made.
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