The Ministry of Finance’s Department of Economic Affairs issued new guidelines on August 21, 2024, related to Public Provident Fund (PPF) for minors, multiple PPF accounts, and PPF accounts held by non-resident Indians (NRIs). These guidelines will come into effect from October 1, 2024. “The government’s move will ensure compliance and give account holders a chance to correct discrepancies,” says M. Barve, founder, MB Wealth Financial Solutions.
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