look news india
PPF and Sukanya: If you have more than one account of Public Provident Fund (PPF), Sukanya Samriddhi Account (SSA), Mahila Samman Yojana, then you will get the benefit of normal interest rate only. At the time of maturity, you will be able to avail maximum interest on only one account.
Investors will be disappointed with the Central Finance Ministry's move to implement the new system from October 1. If you have opened more than one account in big savings schemes, you may incur loss instead of profit. In schemes with higher interest rates, except one, the rest of the accounts will get refund at simple interest rate. The Postal Department has issued a guideline on the instructions of the Finance Ministry.
This is how you will be identified
Anil Kumar, Chief General Manager of Bihar Postal Circle, said that to open an account of any scheme, a Customer Identification File (KIF) is opened for the customers. It contains the customer's information. In case of a newborn baby, when he grows up and his Aadhaar number is added to his account or when Aadhaar is entered at the time of withdrawal of money during the maturity period, then the existence of more than one account will be identified. After this, except the first basic account, simple interest will be received on the rest of the accounts.
Only blood relatives can open an account
As per the government's instructions, only blood relatives can open an account. Till now it was seen that only maternal grandparents, maternal uncles, maternal aunts, maternal grandparents used to open accounts. Now the government plans that only the real guardians, parents can open an account.