Kamath was informed of a new regulation stipulating that only individual PPF Accounts could be opened, with family PPF accounts disallowed.
(Representative image/ iStock)
A district consumer forum in Udupi, Karnataka, has slapped a penalty of ₹50,000 on India Post for failing to pay the interest amount on PPF contributions made by a customer and directed the department to remit the sum. The customer was suddenly told only individual Public Provident Fund Accounts could be opened, with family PPF accounts disallowed.