In making a big announcement on Thursday, the government has given great relief to PPF Account Holders. In fact, while sharing a post on the social media platform X, Finance Minister Nirmala Sitharaman said that no charge will have to be given for PPF accounts for PPF Nominee Updation, ie this work will be absolutely free now. This will benefit more than 6 crore people in the country.
Finance Minister shared information
According to PTI, the government has made a change in PPF Account Ruele Rule through notifications. Finance Minister Nirmala Sitharaman has said in a post on social media platform Twitter (now X) that some financial institution was being charged by some financial institution to update nominee details in PPF account, but now this work will be absolutely free.
It was a charge of 50 rupees
Notification has also been issued by the government about this change made by the government for PPF account holders. In this notification issued on April 2, 2025, it is clearly written that any fee on nominee updation in PPF Account has been abolished. These necessary changes have been made in Government Savings Promotion General Rules 2018. According to this, so far a fee of Rs 50 was being charged for cancellation or replacing the small saving schemes run by the government.
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… pic.twitter.com/hi33sbln4e
– Nirmala Sitharaman (@NSITHARAMAN) April 3, 2025
Facility provided till 4 nominees
In his social media posts, the Finance Minister has also shared notifications issued by the government regarding changes in rules. Nirmala Sitharaman has said that in addition to freeing the nominee updation, the recently passed banking amendment bill 2025 (Banking Amendment Bill 2025) has also been provided to PPF account holders to pay their deposits, collecting money, items reserved and 4 nominees for lockers.
Better Investment Option PPF
Most professional in PPF invests to save tax saving. Along with investment, maturity amount and interest also remain tax free. This is a better way to make safe investment and big funds in the long term. On investment in PPF account, Rs 1.50 lakh is received under Section 80C. Explain that the government gets 7.1 percent interest on investment in PPF.