09 April 2011
Sirs, I have been informed that an HUF cannot open/operate a PPF A/c and as such, henceworth no Interest would be paid on the balance in the account. I have been asked by the Bank to close the account. Is this fact correct? Rgds and thanks in advance. SBMehta
09 April 2011
YES. A PPF account can be opened by an individual on his own behalf or on behalf of a minor of whom he is the guardian or on behalf of an association of persons or a body of individuals. An individual can open only one account for himself.
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