Shillong, 18 September : Union Finance Minister Nirmala Sitharaman officially launched the NPS Vatsalya Scheme today, aimed at enhancing financial literacy and savings among India’s youth. The initiative seeks to empower parents to invest in their children’s future through a pension account, ensuring long-term wealth through compounding.
As part of the launch, Sitharaman introduced an online platform for subscribing to the scheme and released an official brochure. During the event, she also distributed Permanent Retirement Account Number (PRAN) cards to new minor subscribers.
The launch coincided with a successful awareness program organized by the State Level Bankers’ Committee (SLBC) Meghalaya and NABARD, which engaged over 100 students from two schools in Shillong.
The program commenced at Kelian Memorial School, where over 51 students participated in an interactive session focused on financial planning and the benefits of the National Pension System (NPS). Following this, Grace Academy School welcomed an additional 60 students, who actively engaged in discussions about the importance of financial security.
About NPS Vatsalya
NPS Vatsalya enables parents to contribute as little as Rs. 1,000 annually in their child’s name, making it accessible for families from all economic backgrounds. This scheme is designed to kickstart financial security early, marking a significant advancement in India’s pension system, overseen by the Pension Fund Regulatory and Development Authority (PFRDA).
The launch of NPS Vatsalya underscores the Government of India’s dedication to promoting long-term financial planning and security for all citizens.
