Rules Change from 1st October : If you have invested in PPF, Sukanya Samriddhi Yojana, then there is important news for you. The government has changed the rules related to these schemes.
If you have invested in these investment schemes, then you will have to complete some important work before October 1, otherwise your account may become inactive.
PPF:- Last month, the Department of Economic Affairs of the Ministry of Finance issued guidelines to regulate the Public Provident Fund (PPF). These guidelines are going to be implemented from October 1, 2024. From the beginning of next month, PPF accounts opened in the name of minors will get savings account interest until they turn 18 years old.
At the same time, if you have more than one PPF account, then only one account will get interest as per the rate of the scheme. Apart from this, no interest of any kind will be paid on the amount deposited in other PPF accounts.
Sukanya Samriddhi Yojana: New rules will be implemented for Sukanya Samriddhi Yojana launched for daughters. The rules related to this are going to change from October 1. Under the new rules, those accounts which have been opened by grandparents or someone else will have to be transferred to the name of legal guardian or parents. The government’s aim is to maintain transparency and proper supervision of the accounts.
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