Public Provident Fund Current Affairs, GK & News

Government of India (GoI) reduces minimum annual deposit requirement for accounts under Sukanya Samriddhi

The Government of India (GoI) has reduced the minimum annual deposit requirement for accounts under Sukanya Samriddhi Yojana from Rs. 1,000 to Rs. 250. The move will enable more people to take advantage of the girl child savings scheme. The government has amended the Sukanya Samriddhi Account Rules, 2016 for the purpose. The interest rate ..

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Recent Government Steps to Make Savings Process simpler for Small Savers

The government has taken steps to make the life easier for small savers and also ensure the motto of ‘minimum government, maximum governance’. Steps taken to ease the life of small savers are It proposed the Government Savings Promotion Act by merging the Public Provident Fund (PPF) Act of 1968, the Government Savings Banks Act ..

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Voluntary Provident Fund

Voluntary Provident Fund (VPF) refers to the voluntary contribution that an employee makes towards his Provident Fund Account over and above the mandatory 12% of his basic salary. VPF is fixed at a proportion of the salary and its percentage cannot be reduced or increased midyear. VPF is available only to salaried employees and is ..

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Senior Citizen Welfare Fund

Central government of India has proposed setting up of Senior Citizen Welfare Fund with the sole motive of welfare of senior citizens. Finance Minister Mr. Arun Jaitley has announced the setting up of the fund with the help of unclaimed deposits of Public Provident Fund PPF and Employee Provident Fund EPF. The deposits are estimated ..

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Shyamala Gopinath panel recommendations

The Government has recently accepted the recommendations of former RBI deputy governor Shyamala Gopinath panel which would help investors earn higher interest on small savings schemes such as public provident fund and post office deposits. The schemes are now under the market-linked interest rate system. What is market-linked interest rate system for small savings scheme? ..

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