Finance Minister Nirmala Sitharaman will launch the NPS Vatsalya Scheme on September 18, 2024. This new initiative will allow parents to invest Rs 1,000 annually in their child’s name to secure their financial future.
The scheme offers flexible contribution and investment options, making it accessible to families from all economic backgrounds. Along with the launch, an online platform for subscriptions and scheme brochures will be introduced, and Permanent Retirement Account Number (PRAN) cards will be issued to new minor subscribers.