Ministry of Finance Government of India makes Amendments in Small Savings Act Proposes merger of Government Savings Certificates Act, 1959 and Public Provident Fund Act, 1968 with the Government Savings Banks Act, 1873; All existing protections have been retained while consolidating PPF Act under the proposed Government Savings Promotion Act.​ ​ Posted On: 13 FEB 2018 The Government gives highest priority to the interest of small savers, especially savings for the benefit of girl child, the senior citizens and the regular savers who form the backbone of our country’s savings architecture. In order to remove existing ambiguities due to multiple Acts and rules for Small Saving Schemes and further strengthen the objective of "Minimum Government, Maximum Governance", Government of India has proposed merger of Government Savings Certificates Act, 1959 and Public Provident Fund Act, 1968 with the Government Savings Banks Act, 1873. With a single act, relevant provisions of the Gov...