19 hours Ago By Sudeshna Panda
New Delhi: No fees shall be charged for updating of nominees in PPF accounts said the Finance Minister Nirmala Sitharaman via post on her official X account on Wednesday.Union Finance Minister Nirmala Sitharaman wrote on ‘X’ that, “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 the updating of nominees for PPF accounts.
“The Banking Amendment Bill 2025, passed recently, allows nomination up to 4 persons for payment of depositors’ money, articles kept in safe custody and safety lockers,” she further wrote.To expand the ‘Ease of Living’ of its 7.5 crore members, the Employees Provident Fund Organisation (EPFO) has decided to enhance the auto settlement of advanced claim (ASAC) limit by five times from currently Rs 1 lakh, sources told ANI.
According to sources, Sumita Dawra, Secretary, Ministry of Labour and Employment had approved the proposal to enhance the limit from Rs 1 lakh to Rs 5 lakh in the 113th meeting of Executive Committee (EC) of Central Board of Trustees (CBT), held last week.Read The X Post Here: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.
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twitter.com/Hi33SbLN4E— Nirmala Sitharaman (@nsitharaman) April 3, 2025Also Read: Centre set to increase limit for auto settlement of PF withdrawal from Rs 1 lakh to Rs 5 lakhThe post No fee to be charged for updating of nominees in PPF accounts: FM Nirmala Sitharaman appeared first on KalingaTV..
