New rules for small savings schemes

Is your PPF or Sukanya Samriddhi account at risk? Here’s what you need to know

TheSpuzz Desk5 months ago07 mins

Source: Live Mint India’s small savings schemes, long cherished for their high interest rates, are under the scanner. The government has announced a strict crackdown on irregular Public Provident Fund (PPF) and Sukanya Samriddhi Account (SSA) accounts, stripping them of their attractive 7.1% and 8.2% interest rates. Instead, such accounts will either earn no interest…

New rules for small savings schemes from 1st October 2024 you should know | Mint

TheSpuzz Desk6 months ago03 mins

Source: Live Mint The Ministry of Finance has issued updated guidelines for regularising irregular accounts across various National Small Savings Schemes. The guidelines cover a range of irregular accounts, including those under NSS-87, PPF for minors, and Sukanya Samriddhi schemes. All post offices and financial institutions must adhere to these new procedures to ensure proper…