New Delhi: Good information for Public Provident Fund (PPF) account owners. Updating or changing candidate information in PPF accounts is currently entirely complimentary. The federal government has actually junked the cost as component of the upgraded Government Savings Promotion General Rules, 2018. It was introduced via a Gazette Notification on April 2, 2025.
Now, making modifications to elections in PPF, SCSS, NSC, and various other tiny financial savings plans is entirely complimentary. Earlier, financial institutions and blog post workplaces billed a cost for upgrading, changing, or including candidates to these accounts. However, with the most up to date change to the Government Savings Promotion General Rules, 2018 (alerted on April 2, 2025), all nomination-related updates will certainly be refined at absolutely no price throughout these financial savings plans.
You can currently include, transform, or upgrade candidates in your account free– consisting of readjusting the percent share amongst several candidates.
Finance Minister Nirmala Sitharaman required to social networks system X to share the upgrade, mentioning, “Recently was informed that a fee was being levied by financial institutions for updating/modifying nominee details in PPF accounts. Necessary changes are now made in the Government Savings Promotion General Rules 2018 via Gazette Notification 02/4/25 to remove any charges on the updation of nominees for PPF accounts.”
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Recently was notified that a cost was being imposed by banks for updating/modifying candidate information in PPF accounts.
Necessary modifications are currently made in the Government Savings Promotion General Rules 2018 using Gazette Notification 02/4/25 to eliminate any kind of fees on … pic.twitter.com/Hi33SbLN4E
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— Nirmala Sitharaman (@nsitharaman) April 3, 2025
