What is the change?

Earlier, the facility of Aadhaar-based e-KYC was available only in some schemes like MIS, TD, KVP and NSC. But now it has been implemented on RD and PPF accounts across the country. For RD and PPF accounts, you can now do this work through biometric Aadhaar in the post office.

Opening a new RD or PPF account.

Depositing amounts into your account.

Taking loan against RD and PPF.

Paying EMI of the loan taken.

Withdrawal from PPF account (without any limit)

Aadhaar number will now be safe

Now the Aadhaar number will be masked on all documents. That is, only the last four digits will be visible.

If the full number is visible in any document like the photocopy of Aadhaar, the post office staff has been instructed to hide it with a black pen.

How will this whole process happen?

The Post Office Assistant (PA) will obtain Aadhaar consent from the customer by taking biometric scan.

While opening an account or for a transaction, the identity will be verified by taking fingerprint for the second time.

In this process, neither any pay-in slip nor any withdrawal form will have to be filled.

The amount you mention while opening the account will be considered as your deposit amount.

If the money is being transferred from your Post Office Savings Account, then no separate form (SB-7) needs to be filled.

The Postal Department said that soon these works will also be done through Aadhaar-biometric service.

Account closure

Updating nominee details

Transferring account from one post office to another

With this new change, the post office service has become faster, safer and paperless. Now investments like RD and PPF can also be easily done digitally. So if you have an account in the post office, then next time you can get your work done with Aadhaar without any form.

The post Now RD and PPF accounts can be opened in post offices through Aadhaar, no form will have to be filled first appeared on Rightsofemployees.com.

The Finance Minister wrote on the social media platform ‘X’, recently it has been learnt that financial institutions are charging for adding/changing the details of ‘nominee’ in PPF accounts. The ‘nominee’ has a legal right over the amount of the original account holder. He said that necessary changes have been made in the Government Saving Promotion General Rule 2018 through the notification of 2 April 2025 to remove any charge on change in the information related to ‘nominee’ for PPF accounts.

In the notification, the charge of Rs 50 for cancelling or changing the nomination for the small savings scheme run by the government has been abolished. He said, “The recently passed Banking Amendment Bill 2025 allows a maximum of 4 people to be made ‘nominees’ for payment of depositors’ money, goods kept in safe custody and safety lockers.

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

How to update nominee details in PPF account?

You can change the nominee details in your PPF account by filling Form-10. It can be updated both online and offline. Some banks like SBI, HDFC and ICICI provide the facility to update details through internet banking.

Online method:

1. Log in to your bank’s internet banking portal.
2. Go to the PPF Account section.
3. Select Nominee Update or Modify Nomination.
4. Enter the new nominee details.
5. Authenticate using OTP or internet banking credentials.
6. Submit the request and save the acknowledgement.

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The post PPF investors! Now, No charges for updating/modifying nominee details in PPF accounts first appeared on Rightsofemployees.com.

There are only a few days left for the month of September to end. From the first of next month i.e. October 1, many things related to the common man are going to change. This includes rules ranging from LPG prices to PPF accounts. Actually, many changes take place on the first of every month. Government and non-government companies also change their rules. It is important for the common man to know about these rules. These changes have a direct impact on the pocket of the common man.

LPG Cylinder Prices

Usually, the government changes the price of LPG on the first of every month. Changes are seen in the prices of commercial gas cylinders as well as cooking gas. In such a situation, a change in the price of LPG cylinder is expected this time too. Last month, the price of commercial LPG gas cylinders had increased, while no change was made in the price of domestic LPG cylinders.

Along with the change in the prices of LPG cylinders on the first of every month, oil marketing companies also change the prices of Air Turbine Fuel (ATF) and CNG-PNG. In such a situation, changes can be seen this time as well .

3 new rules for PPF accounts

If NRI account holders do not update their PPF account as per the rules, they will not get any kind of interest. According to the new guidelines, POSA interest rate will be applicable on PPF accounts opened in the name of minors until the child turns 18 years old. Apart from this, if someone has more than one PPF account, then the interest rate of the scheme will be applicable only on the main account.

Impact on Sukanya Samriddhi Yojana (SSY)

New rules will also be applicable on Sukanya Samriddhi Yojana. Under the new rules, from October 1, only legal guardians of daughters can operate these accounts. Now those accounts which were opened by grandparents without the name of parents will have to be transferred to the name of legal guardians or natural parents.

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The post New Rules from 1 Oct 2024: There are going to be important changes in many rules in the country from Oct 1, 2024 first appeared on Rightsofemployees.com.

Your PPF account matures in 15 years. If you want to open an account in PPF for investment, then this news can prove to be very important for you.

Because the Government of India has changed the rules related to PPF which will come into effect from October 1. The government had issued a circular regarding these changes last month. Which rules of PPF have been changed and how will it affect PPF account holders. Let us tell you all the information related to this.

Minor will get interest after 18 years

The government has changed the rules of PPF and decided that now the money deposited in a PPF account opened in the name of a minor will get interest equal to that of a post office savings account. Till the minor turns 18 years of age, the interest rate of PPF will not be applicable on the account. Along with this, the maturity date of the PF account will start from the date the minor attains majority.

Also Read: Pension eKYC: Pension will be available with arrears as soon as e-KYC is updated

Zero interest on NRI accounts without residency details

Under the changed rules of PPF, new guidelines have been issued for NRI’s PPF account. Currently, NRIs do not have to provide their residency details for a PF account. Despite this, they are given the same interest as the post office savings account.

But now this will change, after October 1, 2024, the interest rate in such accounts will become zero. That is why if any NRI has a PPF account, then first he should know about this rule and complete all the necessary actions.

Interest will be available in only one PPF account

If a person has more than one PPF account, then he will be given PPF interest only in the primary account. That too, interest will be given only on the money deposited within a fixed limit. Money more than that will be returned with zero interest.

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The post New PPF Rules from Oct 1: These PPF accounts will not earn any interest. Know why first appeared on Rightsofemployees.com.