DEA Issued 6 New Rules for PPF, Sukanya Samriddhi Yojana

Current Context: The Department of Economic Affairs (DEA) has issued six new rules for Public Provident Fund (PPF), Sukanya Samriddhi Yojana (SSY), and other small savings schemes, effective from October 1, 2024.

Here are the key changes:

Irregular NSS Accounts: Accounts opened irregularly under the National Small Savings (NSS) schemes will be regularized. Specific guidelines have been provided for accounts opened before and after certain dates.
PPF Accounts for Minors: New rules for PPF accounts opened in the name of minors to ensure compliance with deposit limits.
Multiple PPF Accounts: Guidelines for handling cases where individuals have more than one PPF account.
NRI PPF Extensions: Rules for the extension of PPF accounts by Non-Resident Indians (NRIs).
Sukanya Samriddhi Account (SSA) Regularization: Regularization of SSA accounts opened by grandparents instead of guardians.
Zero Interest on Non-compliant Accounts: From October 1, 2024, accounts that do not meet the specified criteria will earn zero percent interest.

These changes aim to streamline the management of small savings schemes and ensure compliance with the regulations.

Question:

1 Which of the following changes has been introduced by the Department of Economic Affairs (DEA) effective from October 1, 2024, concerning National Small Savings (NSS) accounts?