Can a nominee continue the PPF account without any further deposits after the death of the subscriber? Will such an account continue to earn interest till final claim and closure? Is there any time limit for nominee to close the account and make the claim? 

Rajaravishekar, e-mail

In law, a nominee has no decision-making powers. He is there simply to collect the proceeds in the account. He should take steps to produce the death certificate of the accountholder and claim the balance in the PPF account.


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(This article was published in the Business Line print edition dated November 29, 2010)
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