By Admin 
Ppf account: There has been a lot of relief news for Public Provident Fund (PPF) account holders. The government has made the service free of updating or modifying nominee details to PPF Account. This will make it very easy for those who make small savings. Finance Minister Nirmala Sitharaman announced this on Thursday.
According to the Finance Minister, I have recently received the news of fees from financial institutions to update or modify the nominee details in PPF account. He said that necessary changes have been made in the Government Savings Promotion General Rules 2018 through the Gazette notification of April 2, 2025 to remove any fee related to updating the details of persons enrolled in PPF accounts.
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 saving 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
Now four people will be able to make nominee
In the Gazette notification, a fee of Rs 50 has been abolished for canceling or changing enrollment for small savings schemes run by the government. He said, the recently passed Banking Amendment Bill 2025 is allowed to make maximum four people nominees for payment of money, goods kept in safe custody and safety locker.
Let us know that in the Lok Sabha on Tuesday, the bank account holder has been allowed to make four people in his account in the Banking Law (Amendment), Bill, 2024. Due to this, deposits will have an option to make 4 people a nominee at all times or one after another. Along with this, customers taking lockers in the bank will have only the option of gradual enrollment so that the money deposited in the absence of the nominee can be transferred correctly.
Family interest will be protected
According to the earlier rules, if a person wanted to make his two children and his elderly mother a nominee of her PPF account and safety locker, then she also had to pay fees to update the nominee details and the number of nominees was also limited. With this, along with the long legal dispute, the right beneficiaries also missed many times unknowingly. With the recent changes, now three people will be able to make three people without any charge. This will not only protect the interests of the family, but will also make the process of property planning easier.
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