No Fees on changing nominee in Govt Schemes

New Delhi: Finance Minister Nirmala Sitharaman announced on Thursday that no fees will be charged for updating or adding nominees in Public Provident Fund (PPF) accounts. The government has made the necessary amendments through a notification, which was issued in the Gazette on April 2, 2025.

This update follows a recent development where financial institutions were charging a fee for the updation or modification of nominee details in PPF accounts.

Addressing the concern, Sitharaman took to social media platform X (formerly Twitter) to announce the change, stating that the fee structure had been revised to benefit the account holders.

 The gazette notification has done away with the fee of Rs 50 for cancellation or change of nomination for small savings schemes run by the government.