Sukanya Samriddhi to PPF: New Guidelines for Irregular Small Savings Schemes Effective from October 1

The Ministry of Finance has issued new guidelines for regularizing irregular accounts in small savings schemes, effective from October 1, 2024. These apply to various accounts, including NSS-87, minor PPF accounts, and Sukanya Samriddhi schemes. Financial institutions and post offices are required to implement the procedures outlined to ensure proper compliance. The updated rules focus on six key categories of irregular accounts, such as NSS accounts, multiple PPF accounts, PPF extensions for NRIs, and Sukanya Samriddhi accounts opened by grandparents who aren't legal guardians.

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