The Narendra Modi government has introduced new PPF Scheme 2019. This replaces all the previous rules with immediate effect.
As per the new rules, PPF account is not liable to attachment in respect of debt incurred by the investor. Investors can now withdraw 50 percent of their fourth-year end balance.
Earlier, one could withdraw only 25 percent of the accumulated amount after seven years. The investor can open an account in the name of a minor or children with unsound mind, special needs.
The maturity period for a PPF account is 15 years and the investor can extend their account in a block of five years.