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PPF Facility Extended To More Post Offices

By Staff
|

In a bid to make Public Provident Fund (PPF) schemes widely accessible, India Post has approved the extension of the scheme up to single-handed sub-post offices with immediate effect.

PPF Facility Extended To More Post Offices
 

"The references have been received in this office from time to time to expand PPF scheme to Single Handed Sub Post Offices. The matter was examined in detail in the light of the recently notified Public Provident Fund Rules, 2019 and the competent authority has accordingly approved for extension of PPF scheme up to Single Handed Sub Post Offices with immediate effect," India Post said in a circular.

"Necessary amendments in the Inspection Questionnaire of Sub Post Offices will be issued by the concerned branch of the Directorate to avoid the any possibility of any fraud," it added.

Earlier this month, the Department of Posts issued a notification easing rules for subscribers of small savings schemes, PPF or post office RD (recurring deposits), by allowing them to pay their dues, if any, till 30 June with no penalty or revival fee. This announcement was made in light of the COVID-19 related lockdown across the nation that made account holders difficult to pay their dues in time due to the lockdown.

Story first published: Wednesday, April 29, 2020, 13:53 [IST]
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