There are many ways to invest today. From the bank to the government, many investment schemes are being operated.
In which there are many schemes ranging from Fixed Deposit, Sukanya Samriddhi Yojana, and PPF Account. If you also invest in PPF account.
So big information has come out for you. A big rule has come from the government for those investing in PPF account, which will have a direct impact on the investors
Two or more PPF accounts opened by the same person on or after 12th December 2019 on PPF account cannot be merged. In such a situation, a big update has come out for PPF account. In which the Office Memorandum has been issued.
According to media reports, it was clarified by the Ministry of Finance that two or more PPF accounts opened by the same person on or after 12 December 2019 will not be merged. The same Office Memorandum (OM) has also been issued in this regard by the Ministry of Finance.
Cited 2019 rules
It has been said in the office memorandum that the institutions operating PPF accounts should not send requests for merger of PPF accounts opened on or after December 12. Behind this, the rules of the year 2019 of PPF have been cited
Only one account will remain active
In the circular issued by the post office after the issuance of the office memorandum, it was said that out of two or more PF accounts opened on or after December 12, 2019, only one account will remain active. Rest of the accounts will be closed. No interest will be paid on any PPF account to be closed the same.
