Union Finance Minister Nirmala Sitharaman has launched the NPS Vatsalya scheme, a new initiative under the National Pension System (NPS) designed for minors. Managed by the Pension Fund Regulatory and Development Authority (PFRDA), the scheme aims to provide long-term financial security for children by allowing parents to make flexible contributions starting at ₹1,000 annually. The scheme was launched simultaneously across 75 locations in India, with new minor subscribers receiving Permanent Retirement Account Number (PRAN) cards. NPS Vatsalya offers investment options in market-linked securities, ensuring higher returns through compounding. The initiative marks a significant step in India's efforts to promote financial planning and security for future generations.