Union Finance Minister Nirmala Sitharaman introduced NPS Vatsalya, the much-awaited online platform that can be used to apply for the NPS Vatsalya scheme, which is exclusively meant for young subscribers. NPS Vatsalya is a scheme where parents or guardians can start saving for their minor children and then have options to convert this account to an NPS Tier 1 later. The scheme, which is a long-term investment scheme, will be managed under the supervision of the Pension Fund Regulatory and Development Authority (PFRDA). The NPS Vatsalya scheme is open to all Indian citizens, including NRIs, allowing them to create accounts for their minor children. Legal guardians of minors can also open an NPS Vatsalya account.