Breaking: No More Fees for Updating PPF Nominees, Says Finance Ministry
2025-04-03
The Hindu BusinessLine
In a significant move, the Finance Ministry has scrapped the fee for updating nominees in Public Provident Fund (PPF) accounts, effective April 2. This change, introduced through the Banking Amendment Bill, allows account holders to add up to 4 nominees, making it easier to manage their savings and investments. With this update, PPF account holders can now modify their nominee details without incurring any charges, providing greater flexibility and convenience. This development is expected to benefit millions of PPF account holders, enhancing their overall banking experience. Key terms like online banking and investment planning are also set to be impacted.
