Stories
Major changes in post office interest rules for PPF and Sukanya Samriddhi
- •Significant changes have been introduced in the interest correction and adjustment process for various post office savings schemes.
- •Direct interest correction is no longer allowed, and approval through the Maker-Checker system is now mandatory for PPF and Sukanya Samriddhi accounts.
- •The primary objective of this change is to prevent errors or unauthorized modifications in interest calculations and to enhance transparency.
- •Under the new system, one official enters the interest adjustment as a Maker, and another verifies and approves it as a Checker.
- •Adjustments up to Rs 5 lakh can be made through HIARM, while amounts exceeding this limit must be sent to CPRC in Chennai.
Key Questions Answered
Under the new post office rules, direct correction or adjustment of interest errors is no longer allowed. All interest adjustments must now go through a mandatory Maker-Checker system, where one official enters the adjustment and another official verifies and approves it to enhance transparency and prevent calculation errors.
The new Maker-Checker rules affect several post office savings schemes, including the Post Office Savings Account, Public Provident Fund (PPF), Sukanya Samriddhi Account, National Savings Certificate (NSC), Monthly Income Scheme (MIS), and Senior Citizens Savings Scheme (SCSS).
Adjustments up to a maximum of ₹5 lakh can be made through the HIARM (Interest Adjustment Registration Menu). If the amount exceeds this limit, the matter must be sent to the CPRC in Chennai for further processing.
