Oxxy announces Rs 11,000 FD for every newborn girl

Reuters file photo for representation.
Highlights: 
Under the programme, an expecting mother has to register before she is three-months pregnant.

In a bid to bridge gender inequality, one of India's largest healthcare network, Oxxy has announced to give a fixed deposit worth Rs 11,000 to every registered newborn girl to help fund her education or professional goals.

Under the Oxxy Girl Child Development Programme, every girl born in the country, whose parents register for the same, will be given Rs 11,000 fixed deposit at the time of birth. "This is irrespective of the religion, social status or geographical location of the parents," Oxxy said in a statement.

The programme is designed to make girls financially independent.

"Girls could use this money judiciously at 18, when they are an adult. It may be used for their education, professional goals or whatever they want to do. The money is for them to enable a better future for themselves and no one else will have any right on it," it said.

Under the programme, an expecting mother has to register before she is three-months pregnant. The organisational support shall guide her as per the global recommended tests so that the baby is healthier and mother can also be taken care of.

In case a girl child is born, an interest-paying "fixed deposit of Rs 11,000 will be made in the name of the child which may be linked to her Aadhaar card and bank account. She can access it when she turns 18 without any restrictions," the statement said.

Expecting mothers, during their pregnancy, have to register on Oxxy Health App available on the play store.

Oxxy is India's largest healthcare network with over two lakh health centres spread in 1,500 cities.

According to Pankaj Gupta, founder Oxxy, "This programme is not funded by the government, taxpayers or any foreign foundations. The entire facilitation of funds will be made by Oxxy along with its 1.5 lakh healthcare network partners."

Oxxy also proposed a free health programme for both girls and boys across India. They would be given a lifetime Oxxy membership plan to take care of their health. This plan will be given free of cost. It will help in having a healthier next generation.

"More than 50,000 kids are born in India every day and catering to all of them through Oxxy Girl Child Development Programme may make this world's biggest social impact initiative," said Oxxy co-founder Sheetal Kapoor. 

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