Relaxation of provisions for Account holders of PPF, Sukanya Samriddhi Account (SSA) and RD

The Relaxation of provisions for the account holders of Public Provident Fund (“PPF”), Sukanya Samriddhi Account (“SSA”) and Recurring Deposit (“RD”). The Government has taken the decision to safeguard the interests of small savings depositors in view of the lockdown in the country due to the COVID – 19 Pandemic. The subscribers of PPF and SSA may now deposit their savings up to June 30, 2020, which couldn’t be deposited in FY 2019-20 due to lockdown in the country.

The revival fees/penalty charges are waived off on the PPF, SSA/ RD accounts in which mandatory minimum deposit is not made up to March 31, 2020 subject to such deposit are made up to June 30, 2020. All those PPF subscribers, whose accounts were matured on March 31, 2020 (including one year window for extension), can now be extended up to June 30, 2020.

complete details are available here

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