Q. With reference to NPS Vatsalya Scheme, consider the following statements:
1.It is designed to help parents and guardians to save for their children’s future by contributing to a pension account specifically made for minors.
2.The scheme is open to Indian citizens, Non-Resident Indians (NRIs), and Overseas Citizens of India (OCIs).
3.Securities and Exchange Board of India (SEBI) is responsible for managing the scheme.
How many of the statements given above are correct?
Answer: B
Notes:
Explanation –
Statements 1 and 2 are correct. The NPS Vatsalya Scheme is designed to allow parents and guardians to contribute to a pension account for their minor children, aiming to secure their financial future. The scheme allows Indian citizens, NRIs, and OCIs to participate, thereby making it accessible to a broad range of individuals.
Statement 3 is incorrect. The NPS Vatsalya Scheme is managed under the Pension Fund Regulatory and Development Authority (PFRDA).
Source: AIR
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