Small savings schemes like Sukanya Samriddhi Yojana and PPF can be promoted to residents of rural areas with low incomes. Let us inform you that a significant portion of the population in the nation has more Aadhaar cards than PAN cards.
The good news is for you if you also make minor investments in
savings plans like Public Provident Fund (PPF) or Sukanya Samriddhi Yojana with an eye on your family’s future. The administration is making preparations to make adjustments to both of these programmes. According to media sources, efforts are being made to simplify the procedures for central government investments in modest savings schemes.
Aadhaar cards will be allowed to fund micro-savings programmes (Sukanya Samriddhi Yojana or PPF)
Exemptions are granted in order to connect more people with certain government programmes. This will primarily assist the villagers’ residents. Aadhaar cards would be permitted to be used in place of PAN cards for small savings and investments, according to a report in an English daily citing a Finance Ministry official.
This adjustment will help rural investors and people in
low-income rural areas will be encouraged to use small savings schemes like Sukanya Samriddhi Yojana and PPF. Let us inform you that a significant portion of the population in the nation has more Aadhaar cards than PAN cards. Let us inform you that a relatively small percentage of Indians and urban residents hold PAN cards.
The claims procedure will be simple.
According to a representative of the Finance Ministry, KYC has been established for Jan Dhan accounts for PPF and Sukanya Samridhi programmes. In addition to this, the government is aiming to make the claim process simpler in the event of the investor’s passing. Due to the difficulty of the claim, the deceased’s money has not yet been given to his heirs. In addition, the nomination procedure will be made simpler.
In addition, the government will decide on the interest rate for small savings plans (Sukanya Samriddhi Yojana or PPF)
for the quarter ending in March. Let us inform you that the Ministry of Finance evaluates the interest in small savings schemes every three months. It hasn’t altered much in a while. The interest on small savings plans Sukanya Samriddhi Yojana or PPF is anticipated to rise now that EPFO has raised the interest rate.
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