Good news for PPF investors! Now pay zero costs to update the nominated details. Here's how to change PPF nominee | Mint

PPF news: Investors in public provident funds are a good news in this new financial year! From now on, you do not have to pay any fees if your nominated details in your PPF account want to update or change. The new PPF rule comes as part of a few changes made in the Government Savings Promotion General Rules 2018, the government notified on April 2. Earlier post offices and banks charged £ 50 to update the nominated details of the PPF. In terms of the new rules, this fee was removed. Nirmala Sitharaman shares PPF News Finance Minister Nirmala Sitharaman took to X to announce the new PPF rules news. “It has recently been notified that a fee is charged by financial institutions for the update/amendment of nominated details in PPF accounts,” she wrote. Sitharaman said the government has removed costs required for updating the nominated details of the PPF. “The necessary changes are now made in the Government Savings Promotion General Rules 2018 via Gazette Notification 02/4/25 to remove any cost for updating nominees for PPF accounts,” she said. Nirmala Sitharaman added that the bank amendment bill of the bank amendment 2025, recently approved, was allowed to 4 persons for the payment of money from the depositors. The government’s PPF notice A Gazette notice of the government reads: “In the Government Savings Promotion General Rules 2018, in the Schedule II, under fee to be charged for services, the word and numbers” (b) cancellation or levy of nomination -£ 50 “is deleted.” The new The Government Savings Promotion General (Amendment Rules), 2025, will “take effect on the date of publication in the official Government Gazette”, that is, April 2. What if PPF? Public Provident Fund of PPF is a long -term investment scheme in India, which offers tax benefits and guaranteed returns, with a minimum investment of £ 500 and a maximum of £ 1.5 Lakh annually. The Government has proposed to merge the government certificates Act, 1959 and the Public Provident Provision Fund, 1968, with the Savings Banks Act, 1873. The main purpose of common law is to bring about uniformity for the provisions of different small savings schemes currently controlled by the three laws. How can you change PPF nominated? PPF nominated can be changed for a number of reasons such as divorce with the nominee, the death of the PPF nominated, PPF nominations change from spouse to child, etc. Updated after submitting the form