Committee to examine un-claimed amount remained in PPF, Post Office Savings Schemes (Dated 03rd September, 2014)

Ministry of Finance ordered to set up a committee to examine un-claimed amount remained in PPF, Post Office Savings Schemes. It was announced during the Budget speech that "a large amount of money is estimated to be lying as unclaimed amounts with PPF, Post Office, Saving scheme etc. these are mostly out of investment belonging to the senior citizen and on their demise, remain unclaimed for want of relevant payment instructions". The finance ministry has decided to use this amount of money for the favour of the senior citizen.

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