Rules, Rights & Rites -182
I usually post all important items related to official rulings, union news, and other general matters on my YouTube channels: Yourskayveeyes (English) and Anbudan Kayveeyes (Tamil).
However, due to the recent spate of orders and the high volume of information being received, I have not been able to convert every item into a video. Therefore, I am introducing these new slots to post current matters and updates that have not yet been published on YouTube. This ensures you stay informed on every detail, even if a video hasn't been made yet …………….Kayveeyes
Handling of PPF Hindu Undivided Family (HUF) accounts that were wrongly migrated as individual accounts
• The circular (No. FS-10/18/2020-FS-Part (1), dated 30.04.2026) is issued by the Ministry of Communications, Department of Posts (Financial Services Division), New Delhi, to all Head of Circles.
• Following a data examination by CEPT, more than 840 PPF accounts (specifically 843 accounts) were found to have been wrongly migrated into the system as PPF Individual accounts. These accounts contain terms like "HUF", "M/S", or "Sons" in the depositor's name.
• A detailed list of these accounts is being shared with all Circles via email in Excel format. Circles must instruct their field units to verify these accounts against the original Account Opening Forms (AOF) or Passbooks to confirm if they are indeed HUF accounts.
• If verified as a PPF HUF account, the account must be closed according to extant rules and provisions. Field units must ensure that no irregular interest is paid out at the time of closure.
• Acknowledging that additional misclassified accounts may exist beyond the identified 843, all Circles are directed to initiate a local drive to identify any other wrongly migrated PPF (HUF) accounts and take immediate corrective action.
• Circles are required to submit a fortnightly status report to the FS Division until the entire identification and closure exercise is completed.
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