No. 113-03/2024
भारत सरकार / Government of India
संचार मंत्रालय / Ministry of Communications
डाक विभाग / Department of Posts
(वित्तीय सेवाएं प्रभाग) / (Financial Services Division)
डाक भवन, संसद मार्ग, नई दिल्ली / Dak Bhawan, Sansad Marg, New Delhi
Dated: 07.05.2026
To
All Head of Circles / Regions
Subject: Circulation of instructions regarding identification of irregularly opened PPF accounts.
***
Sir/Madam,
The National Savings Institute (NSI), Ministry of Finance (MoF), has advised to undertake a cross-verification of the records so as to identify the PPF accounts, if any, opened or operated through Power of Attorney or otherwise in contravention of the extant provisions of the PPF Scheme. NSI(MoF) has also suggested that necessary corrective action in such cases should be taken in a timely manner, strictly in accordance with the relevant rules and guidelines, so as to avoid accumulation of irregularities and to prevent hardship to depositors at a later stage.
2. It is hence advised to ensure strict adherence to the provisions of the PPF Scheme and related clarifications issued by the DEA from time to time, while opening and operating PPF accounts.
3. Furthermore, it is also requested to identify all PPF HUF accounts which were opened under an incorrect scheme classification in the legacy system or wrongly migrated under an incorrect scheme from the legacy system to the CBS, by checking account opening forms and other supporting records available with the concerned offices.
4. Strict compliance with the above instructions may kindly be ensured.
5. This issues with the approval of the Competent Authority.
Yours faithfully
(Devender Kumar Sharma)
Assistant Director (SB-II)
0 Comments