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PPF account rules: Why you can open only one PPF account and what it means for your tax savings

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PPF account rules: Why you can open only one PPF account and what it means for your tax savings


New Delhi: The Public Provident Fund (PPF) is one of India’s most popular long-term, government-backed savings schemes. But many investors often wonder whether they can open multiple PPF accounts to increase their tax-saving investments. The government’s rules are clear — an individual can hold only one PPF account in their own name.

Opening additional PPF accounts in different banks or post offices is not permitted under the PPF Scheme. If more than one account is discovered in the same person’s name, the extra account will be treated as irregular and may have to be closed, with interest on the additional account typically not paid.

However, the rules allow parents or guardians to open a separate PPF account for a minor child. Even in such cases, the total annual contribution across the individual’s own account and the minor’s account cannot exceed Rs 1.5 lakh in a financial year, which is the maximum investment limit under Section 80C.

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The PPF scheme remains a long-term savings instrument with a 15-year maturity period, offering tax-free interest and government-guaranteed returns. Investors can deposit a minimum of Rs 500 and up to Rs 1.5 lakh annually, making it a widely used option for retirement and tax planning.

In short, while you cannot open more than one PPF account in your own name, you can still invest in separate accounts for eligible family members such as minor children, within the overall contribution limits set by the government.

 



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From first salary to first investment — Why young Indians are choosing gold

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From first salary to first investment — Why young Indians are choosing gold


New Delhi: Gold continues to remain the most trusted investment option among young Indians, even as access to financial products like mutual funds, stocks, and cryptocurrencies expands, according to a recent consumer survey.

The Smytten PulseAI survey, conducted among 5,000 consumers aged 18–39, found that 62 percent of respondents chose gold as their preferred investment, highlighting the metal’s enduring appeal among Gen Z and Millennials.

When asked how they would invest Rs 25,000, about 61.9 percent said they would choose gold, far ahead of mutual funds (16.6 percent), fixed deposits (13 percent), stocks (6.6 percent), and crypto (1.9 percent), the survey showed.

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The findings also indicate that gold buying is becoming more personal and investment-driven rather than tradition-led. Around 66.7 percent of respondents said their gold purchases were primarily their own decision, reflecting a shift in mindset among younger investors.

Another notable trend is the move toward smaller and more frequent purchases. Nearly 62 percent of recent gold purchases were below 5 grams, suggesting that younger buyers are entering the market gradually instead of making large, occasional purchases.

Gold’s appeal becomes even stronger during uncertain economic conditions. The survey found that 65.7 percent of respondents consider gold the safest investment option compared with bank savings, mutual funds, or equities.

For many young earners, gold is no longer bought only for weddings or family occasions. Nearly 24 percent said their first gold purchase was linked to receiving their first salary, while 23.9 percent bought gold as an investment decision, signalling changing motivations behind gold ownership.

Overall, the survey highlights that while investment behaviour among young Indians is evolving, gold continues to play a central role as a trusted store of value and financial safety net.



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‘Very successful emerging economy’: UN chief António Guterres hails India as AI Impact Summit host – The Times of India

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‘Very successful emerging economy’: UN chief António Guterres hails India as AI Impact Summit host – The Times of India


UN Secretary-General Antonio Guterres (File pic)

UN Secretary-General Antonio Guterres on Saturday endorsed India as the perfect host for the AI Impact Summit 2026 starting Sunday, praising the nation’s growing global influence and successful economy. The first-ever AI summit in the Global South will be held from February 16-20, bringing together world leaders, tech CEOs, and policymakers to discuss artificial intelligence’s future while ensuring its benefits reach everyone globally.In an exclusive interview with PTI, Guterres strongly backed India’s initiative, saying “I strongly congratulate India for organising this Summit. It’s absolutely essential that AI develops itself to the benefit of everybody, everywhere and that countries in the Global South are part of the benefits of AI.”

India’s AI Rise Gets Global Push As UN Chief Praises Leadership, Nvidia CEO Predicts Job Surge

The UN chief warned against AI becoming a privilege of developed nations or limited to superpowers like the US and China. He emphasized that AI must serve as “a universal instrument for the benefit of humankind.”Speaking about India’s role in global affairs, Guterres praised the country’s position as a key emerging economy. He highlighted recent developments like India’s trade agreement with the European Union as positive steps toward true global multipolarity. “The role of India, (which) is today a very successful emerging economy that is having a bigger and bigger role in not only the global economy but in its influence in global affairs, India is the right place to have this Summit and to make sure that AI (is) being discussed in depth, in all its enormous potential and also in all its risks, but that AI belongs to the whole world and not only to a few,” he said.Further praising India, he added, “I see India in the centre of those emerging economies, and this is something I would be delighted to discuss with Prime Minister Modi because I have a lot of hope for the role that India can play in shaping this multipolar world.”The UN chief expressed his “frustration” with the Security Council’s ineffectiveness and called for fundamental reforms to better represent today’s world, referring to India playing a central role in shaping a multipolar world order.“There are two things we need to avoid in the world. We need to avoid the system in which there is total hegemony by only one power or a system in which the world is divided between two superpowers,” Guterres also said.Guterres also shared his personal appreciation for India, describing his fascination with the country’s rich history and cultural influence. He mentioned how he’s currently reading about India’s historical impact on various regions, from China to Southeast Asia and even the Mediterranean during the Roman Empire.The summit will see presence from various world leaders, including French President Emmanuel Macron, Brazilian President Luiz Inacio Lula da Silva, and tech leaders like Google CEO Sundar Pichai, Adobe CEO Shantanu Narayen, and Anthropic CEO Dario Amodei.The summit will also feature other UN leaders, including Human Rights Commissioner Volker Turk and Technology Envoy Amandeep Singh Gill, focusing on the summit’s core themes of ‘People, Planet and Progress’.



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Women losing £2,548 a year to pay gap, TUC says

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Women losing £2,548 a year to pay gap, TUC says


The gender pay gap in the UK is not projected to close for another three decades, according to a new analysis by the Trades Union Congress (TUC). At the current rate of progress, women will have to wait until 2056 for pay parity.

The TUC’s findings reveal that the average woman effectively works for 47 days of the year without pay, only beginning to earn from today compared to her male counterparts. The union body states that the gender pay gap currently stands at 12.8 per cent, equating to a loss of £2,548 annually for the average female worker.

Disparities are particularly stark in certain sectors, with the pay gap in education reaching 17 per cent, while in the finance and insurance industry, it escalates to 27.2 per cent.

Paul Nowak, TUC General Secretary, highlighted the severity of the situation. “Women have effectively been working for free for the first month and a half of the year compared to men,” he said.

The TUC said its analysis showed that the average woman effectively works for 47 days of the year for free and only starts earning from today compared to the average man (Peter Byrne/PA Wire)

“Imagine turning up to work every single day and not getting paid. That’s the reality of the gender pay gap. In 2026 that should be unthinkable.”

Mr Nowak emphasised the financial strain on women amidst the cost of living crisis. “With the cost of living still biting hard, women simply can’t afford to keep losing out. They deserve their fair share.”

He added that the Employment Rights Act represents a crucial step towards achieving pay parity, as it will ban exploitative zero-hours contracts, which disproportionately affect women.

The Act will also mandate employers to publish action plans for tackling their gender pay gaps, though Mr Nowak stressed these plans “must be tough, ambitious and built to deliver real change, otherwise they won’t work.”



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