PPF Scheme 1968: HUF and Association Accounts Removed
No longer current — withdrawn, no replacement on file yet
Source: Reserve Bank of India · RBI/2004-05/468 · issued 14 May 2005 · ~2 min read
Quick answerRBI notified amendments to the PPF Scheme, 1968, effective May 13, 2005, removing HUF and association of persons as eligible account holders. Banks must update forms and instruct branches accordingly.
What changed
The Government of India amended the Public Provident Fund Scheme, 1968, effective May 13, 2005. Key changes include omitting sub-paragraph (2) of paragraph 3, removing the Note in paragraph 12(1), and revising Form A to delete references to Hindu Undivided Family (HUF) and association of persons. Specific entries in Form A, including S.Nos. 3 and 4 and sub-paragraphs (b) and (c) of paragraph (iv), were omitted.
What it means for you
Banks must stop opening new PPF accounts for HUFs and associations of persons, as these entities are no longer eligible. Existing PPF accounts for such entities may need review, though the circular does not specify transition rules. Banks should update their account opening forms and procedures to reflect the revised Form A and ensure compliance.
Historical instruction — do not use for current compliance. This is what was required at the time; it no longer reflects current RBI requirements. If no replacement rule is linked above, that only means none is recorded on our register yet — it does not prove no later applicable rule exists. Confirm on the official RBI source below.
What banks were required to do at the time
Update PPF account opening forms to remove HUF and association of persons options.
Issue instructions to all designated branches to implement the amendments immediately.
Display the amendments on notice boards and inform existing PPF account holders.
Review and revise internal procedures for PPF account maintenance to align with the new rules.
Who it affects
State Bank of India and associate banks, Allahabad Bank, Bank of Baroda, Bank of India, Bank of Maharashtra, Canara Bank, Central Bank of India, Corporation Bank, Dena Bank, Indian Bank, Indian Overseas Bank, Punjab National Bank, Syndicate Bank, UCO Bank, Union Bank of India, United Bank of India, Designated branches authorized to operate PPF Scheme, PPF account holders (especially HUFs and associations)
❓ Common questions
Regulatory timeline
Stated effective dateeffective May 13, 2005
Decoded by BankPulse2026-06-19 20:40 IST
Status change: withdrawn08 Jul 2026, 13:17 IST
Built from our lineage records — each fact carries its provenance; missing history simply is not shown (never guessed).
Are existing PPF accounts for HUFs or associations affected?
The circular does not explicitly address existing accounts. Banks should seek further clarification from RBI or the government on whether these accounts can continue or must be closed.
When did these amendments take effect?
The amendments came into force on May 13, 2005, as per the notification.
What changes were made to Form A?
The heading was changed to remove 'HUF/ASSOCIATION', and references to HUF or association of persons in various paragraphs and entries were omitted.
📜 Read the original circular — full text as issued by RBI
RBI/2004-05/468
Ref.No.CO.DT.15.02.001/H-9593-9615/2004-05
May 14, 2005
Chaitra 23, 1927 (S)
The General Manager
Government Accounts Department
State Bank of India and Associate Banks ;
Allahabad Bank / Bank of Baroda / Bank of India /
Bank of Maharashtra / Canara Bank / Central Bank of India /
Corporation Bank / Dena Bank / Indian Bank /
Indian Overseas Bank /Punjab National Bank / Syndicate Bank /
UCO Bank / Union Bank of India / United Bank of India /
Dear Sir,
Public Provident Fund Scheme, 1968 - Amendments
We forward herewith a copy of Notification No.G.S.R.____(E)
dated May 13, 2005 issued by Government of India, Ministry of Finance, New Delhi
amending the provisions of the Public Provident Fund Scheme, 1968 as under:
i. in paragraph 3, sub-paragraph (2) shall be omitted;
ii. in paragraph 12, in sub-paragraph (1), the Note shall be omitted;
iii. in Form A -
a. for the heading 'ACCOUNT IN THE NAME OF SELF/MINOR(S)/HUF/ASSOCIATION',
the heading 'ACCOUNT IN THE NAME OF SELF /MINOR (S)' shall be substituted;
b. in paragraph (ii), the words 'or a Hindu Undivided Family
or an Association of persons' shall be omitted;
c. in paragraph (iii) in the details; S.Nos. 3 and 4 and the
entries relating thereto shall be omitted;
d. in paragraph (iv), the sub-paragraphs (b) and (c) shall
be omitted;
e. 'Note 1' shall be omitted.
2. These amendments to PPF Scheme 1968 have come into force
with effect from May 13, 2005. You may please issue suitable instructions to
all your designated branches/offices authorized to operate the PPF Scheme, 1968.
The amendments may also be displayed on the notice board by the above branches/brought
to the notice to PPF account holders.
3. Please acknowledge receipt.
Yours faithfully,
(D.Rajagopala Rao)
Deputy General Manager
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2004-05/468 · issued 14 May 2005. The plain-English explanation above is BankPulse’s own independent summary.
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BankPulse Compliance Evidence Pack — generated 05 Aug 2026 · status cross-checked against RBI’s official withdrawal register (refreshed weekly). Official RBI source: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=2289&Mode=0 — Plain-English summary by BankPulse (bankpulse.ai), reviewed by our expert reviewer, CA Amit Jain. Independent platform, not affiliated with the Reserve Bank of India; is our own plain-English paraphrase, not RBI’s original wording.
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