The postal department has waived fines/revival fees for not depositing the minimum amount in various small savings schemes for the financial year 2019-20 and April 2020 amid the havoc of Corona. Fines/revival fees are waived till 30 June 2020 on schemes like Public Provident Fund (PPF), Recurring Deposit (RD) etc.

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According to the circular issued by the department on 31 March regarding this matter, 'Postal Department has waived the penalty/revival fees for not investing the minimum amount in various small savings schemes for the financial year 2019-20 and April 2020. Fines/revival fees are waived till 30 June 2020 on schemes like Public Provident Fund (PPF), Recurring Deposit (RD) etc.

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Due to the lockdown, many investors have not been able to deposit money in their accounts on time. After which this decision has been taken by the Finance Ministry. The same, if you are among those who have not yet invested the required minimum amount, then the penalty will not be charged for the financial year 2019-20, its last date was 31 March. If you do not deposit the amount in time for the month of May, then you will be charged a fine.

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