Clarification on continuation of SSA Accounts by NRI (Non Resident Indian).
File No. FS-10/17/2020-FS-Part(1)
Dated: 28.12.2022
Subject: Clarification on continuation of SSA Accounts by NRI – Reg.
Reference: Lr. No. FS-POSB002(07)/1/2022 dated 13.12.2022.
In the reference cited above, it has been requested by Karnataka Circle to issue instructions on:
(a). Continuation of the SSA account after the account holder/guardian turn NRI and
(b). Provision for withdrawal from SSA accounts, in case the account holder is going abroad for higher studies.
2. In this connection, it is clarified that if the account holder or guardian or both becomes NRI subsequently after opening the account under National (Small) Savings Schemes including Sukanya Samriddhi Account in accordance with the provisions in Rules 4 (3) of Government Savings Promotion General Rules 2018 and accordingly,
SSA account shall be operated till its maturity under the provisions of SSA Scheme 2019 if the account holder / guardian turn NRI.
This is issued with the approval of the Competent Authority.
