Deposit of Benefits Admissible

1. The amount received from post-birth and annual scholarship for attending school shall be deposited in an interest bearing account to be opened in the name of the beneficiary girl child and an officer designated in this behalf by the State Govt. in the nearest bank or post office (whichever maximum rate of interest).
2. In order to ensure that the maximum possible rate of interest is earned on the deposits of the benefits, no pre-mature withdrawal shall be permitted from the account which will mature on the girl child attaining the age of 18 years.
3. On the girl attaining 18 years of age and on production of certificate from the Gram Panchayat / Municipality that she is unmarried on her 18th birthday, the implementing agency would authorize the bank or post office authorities concerned to allow her to withdraw the matured amount standing in her name in the interest bearing account.
4. In the event of the girl getting married before attaining the age of 18 years, she shall forgo the benefit of the amounts of annual scholarships and the interest accrued thereon and shall entitled only to the post-birth grant amount of Rs.500/- and the interest accrued thereon. The implementing agency shall in such an event, be entitled to withdraw the value of the matured deposit amount and interest accrued thereon and utilize this fund to sanction the benefits under this scheme to other eligible girl children.
5. In the event of the death of the girl child before attaining the age of 18 years, the accumulated amount in her account would be withdrawn by the implementing agency for payment to other eligible beneficiaries under BSY.

Other utilization of Benefits Admissible

1. A portion of the post-birth grant of Rs.500/- or the amount of the annual scholarships eligible for deposit may be permitted to be applied toward the sole purpose of paying the premium on an insurance policy in the name of the girl child under the Bhagyashree Balika Bima Yojana. Such utilization may be permitted with due authorization of the mother/guardian of the child. The remaining amount i.e., the amount left after payment of the premium, shall be deposited in the interest-bearing account.
2. The amounts of annual scholarships may be permitted to be utilized toward purchase of textbooks or uniforms for the girl child, with due authorization of the mother/guardian of the girl. The amounts of scholarships remaining after such utilization shall be deposited in the interest-bearing account.

Eligibility Criteria

1. The girl children must belong to the families below the poverty line (BPL) as defined by the Government of India, in rural areas and urban areas who are born on or after 15th August, 1997.
2. Benefits under BSY will be restricted to two girl children in each household born on or after 15.8.97 irrespective of the total number of children in the household

Limitations

Benefits are limited to two girl children in each household born on or after 15th August 1997 irrespective of the total number of children in the household

Application

Application forms should be submitted in prescribed form and available at free of cost. It can also be made on photocopies or handwritten/typed forms in the prescribed format.