PPF, SCSS, Sukanya Samriddhi, other small savings schemes: What happens if an accountholder dies without nominee; govt clarifies

PPF, SCSS, Sukanya Samriddhi, other small savings schemes: The Finance Bill 2023 has proposed to amend the Government Savings Promotion Act, of 1873 to clarify who will get money if the small savings scheme account holder dies without nomination. The Government Savings Promotion Act, of 1873 covers the Public Provident Fund, Sukanya Samriddhi, Senior Citizens Savings Scheme, National Savings Certificate, Post Office Time Deposits, Kisan Vikas Patra, Post Office Monthly Income Scheme and more.

from Personal Finance News-Wealth-Economic Times https://ift.tt/wh4Ckbx