Chief Manager, State Level Bankers Committee along with others during lauching programme of NPS Vatsalya scheme at SLBC office, Kohima on September 18. (Morung Photo)
Morung Express news
Kohima | September 18
Union Minister for Finance and Corporate Affairs Nirmala Sitharaman launched the NPS Vatsalya scheme in New Delhi through video conference today.
In Nagaland, the launching programme was held at State Level bankers' Committee (SLBC) Office, Near North PS, Kohima organised by SLBC and NABARD where school students and bankers attended the event.
H.Lalhlimpuia, Chief Manager of SLBC, Kohima highlighted that NPS Vatsalya, a plan for contribution by parents and guardian for minors was introduced by Nirmala Sitharaman, Union Finance Minister during Budget 2024 session.
He informed that Nagaland state is not among the identified states who are instructed to distribute PRAN to the beneficiaries. Among the whole Northeast states Assam is the only state identified to be distributed.
The scheme envisages the minor to start investing in pension at early stage. Upon reaching the age of majority, the plan can be seamlessly converted into a regular account. The scheme is regulated and administered by the Pension Fund Regulatory and Development Authority (PFRDA). NPS Vatsalya account can be open with minimum contribution of Rs 1,000/- (no maximum) and subsequent minimum contribution of Rs 1,000/- p.an and no maximum.
Chibeni, NABARD and K. James, Manager of Axis bank Kohima main branch informed that the NPS Vatsalya scheme, launched on September 18, 2024, by Union Minister for Finance and Corporate Affairs Nirmala Sitharaman, is a significant initiative aimed at securing the financial future of children.
A quiz competition was also held for the students.
