Sukanya Samridhi Yojana (SSY) Scheme in Rural Telangana: An Investing in Girls Future

Abstract

This paper examines how the Sukanya Samriddhi Yojana scheme initiative has affected the idea of financial inclusion. Financial inclusion can be achieved and various social groups can be developed with ease through the Sukanya Samriddhi Yojana scheme. Financial inclusion aims to provide broad segments of the underprivileged and low-income population with banking and financial services in an equitable, transparent, and impartial manner at a reasonable cost. The study offers a random sampling technique.  Different categories of respondents with Sukanya Samriddhi Yojana accounts make up the sample size.  A portion of the population that is nearby chosen for the sample.  The Adilabad district has selected for the gathering of 120 sample respondents as parents in rural areas. In the study, the district has chosen based on the number of accounts opened, female sex ratio of which girl child population, rural areas of the districts, postal services and commercial banks.  For the analysis of the data, applied factor analysis, Independent samples T Test, reliability analysis by using IBM SPSS-20 software.          This study enhances to our understanding of account holders', awareness and satisfaction and efficiency, effectiveness, impact, sustainability of the Sukanya Samridhi Yojana scheme. The central government launched a long-term savings program that gave girls and the holders of their accounts financial independence and there are no technological facilities in post offices in the study area of Adilabad, only manual record they have framed. The government must take the required actions to improve the advertisement because the scheme-related awareness program was less. The programs contribute to the development of the country. Payments with cards that can be redeemed nationwide should be offered by banks. Either a scratch card type or a card-to-card transfer could apply here. Bank and Post-offices transactions should be possible on the technological platforms that are intended to promote financial inclusion. In order to achieve this, it is necessary to integrate the various modules—credit, savings, insurance, etc.—into the technological framework in order to enable comprehensive, inclusive initiatives in rural areas.