Public Provident Fund: People living in low-income rural areas can be encouraged to take advantage of the small savings scheme. Let us tell you that a large number of people in the country have more Aadhaar cards than PAN cards.
Small Savings Scheme: If you also invest in small savings schemes like Public Provident Fund (PPF) or Sukanya Samriddhi Yojana (Sukanya Samriddhi Yojana) keeping in mind the future of your family, then the news is for you.
Preparations are on for changes in both these schemes by the government. According to media reports, preparations are on to relax the process of investing in small savings scheme by the central government.
Aadhaar card will be able to invest
The purpose of giving exemption in small saving scheme is to connect more and more people with such government schemes. The people living in the village will be more benefitted by this. According to the report published in the English newspaper, the Finance Ministry official claimed that people will be allowed to invest in small savings scheme using Aadhaar card instead of PAN card.
Investors in rural areas will benefit
With this change, people living in low-income rural areas will be encouraged to take advantage of the small savings scheme. Let us tell you that a large number of people in the country have more Aadhaar cards than PAN cards. Let us tell you that very few Indian population or urban population have PAN cards.
Claim process will be easier
The Finance Ministry official told that for schemes like PPF and Sukanya Samriddhi, KYC has been fixed for Jan Dhan accounts. Apart from this, on the death of the investor, the government is also working on simplifying the process related to the claim. Till now, due to the complexity of the claim, the money of the deceased is not received by his heirs. Apart from this, the nomination process will be further simplified.
Apart from this, a decision will also be taken by the government on the interest on small savings schemes in the quarter ending in March. Let us tell you that the interest of small savings schemes is reviewed every three months by the Ministry of Finance.
It has not changed for a long time. Now after increasing the interest rate on behalf of EPFO, the interest on small savings schemes is expected to increase.
