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Thursday, August 4, 2011

Admissibility of interest in PPF(HUF) accounts matured between 13.5.2001 to 7.12.2010 -a clarification regarding :


S
B ORDER NO. 13/2011

No.32-01/2010-SB

Government of India

Ministry of Communications & IT

Department of Posts

Dak Bhawan, Sansad Marg,

New Delhi-110001, Dated: 01.08.2011

To

All Heads of Circles/Regions

Addl. Director General, APS, New Delhi.

Subject:- Admissibility of interest in PPF(HUF) accounts matured between 13.5.2001 to 7.12.2010 -a clarification regarding.

Sir / Madam,

The undersigned is directed to refer to this office SB Order No.23/2010 dated 13.12.2010 vide which, MOF(DEA) GSR 956 (E) dated 7.12.2010 ( F.No. 7/4/2010-NS-II dated 7.12.2010) was circulated. Now, MOF(DEA) vide its letter No. 7/4/2008-NS-II dated 01.06.2011 has further clarified the following:-

Interest at PPF rate would be paid on those PPF(HUF) accounts which had attained maturity after 13.5.2005 but closed by the subscribers before7.12.2010 subject to the conditions that the accounts had not been extended after maturity and the deposits were retained in such accounts without further subscription during this period.

2. This may kindly be circulated to all post offices for guidance and necessary information. If any such account was closed either without interest or with interest @ Post Office Savings Account, that may be settled according to this clarification.

3. This issues with the approval of DDG(FS).

Yours faithfully,

Sd/-

(Kawal Jit Singh)

Assistant Director (SB)

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