PPF News Latest: Big good news for more than 6 crore people- Government will not charge any fee now

PPF News Latest: The Finance Minister also said that now PPF account holders can add four people as nominees.

There is a good news for PPF account holders. Now there will be no fee for updating the nominee in PPF accounts. Finance Minister Nirmala Sitharaman has shared this information by posting on X (formerly Twitter).

The Finance Minister said that complaints were received from some business institutions about the fee being charged for updating the nominee. Giving clarification on this, he said that under the recent amendments made in the Government Savings Promotion Act, now the nominee can be updated without any fee.

Facility to add four nominees

The Finance Minister also informed that now PPF account holders can add four people as nominees. This will give more flexibility and convenience to the customers. This decision of the government will provide relief to PPF investors and will help in ensuring financial security.

When will the decision be implemented

The Finance Ministry has announced this change by issuing a notification on 2 April 2025 regarding the fee levied on changing or canceling the nominee in savings schemes.

According to the gazette notification, the government has amended the Government Savings Promotion General Rules, 2018 and abolished the fee of ₹ 50 levied on changing or canceling the nominee. This rule has come into effect from the date of publication of the notification.

This decision of the government will provide relief to the account holders of PPF, Sukanya Samriddhi Yojana, Senior Citizen Savings Scheme and other small savings schemes. With this, people will be able to update or change the nominee in their accounts without any additional cost.

The post PPF News Latest: Big good news for more than 6 crore people- Government will not charge any fee now first appeared on informalnewz.

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