[Resolved]  Public Provident Fund — Withdrawal refused by SBI bank

I have opened a ppf A/c in SBI by depositing a cheque for Rs.30,000/- deposited on 26March 1995 pass book entry is mentioned as "March26/April 4 of clearing".I have extended it once for 5 years ie total tenure now is 20 yrs.Can you tell me when it will mature? My PPF account is with Santacruz West branch, Mumbai 400054(branch code 01183). I applied for withdrawal on[protected].I was told that as per rules I can not withdraw wherewas my previous withdrawal was on 26 April 2006, i.e. more than 3 years ago. I am in urgent need of money.Please advise why am I refused the withdrawal.

I also hold another HUF PPF account with SBI in the same branch. This was opened in March 1995, Can I close the account now and get the entire proceeds as on date.

In view o[censored]rgency of my need your immediate response and advise shall be highly appreciated.

PPF account of HUF can not be extended beyond 15 Years
Submitted by : caupdate08 on dated Thursday, December 16th, 2010 | 0 Comments | 678 Hists
Public Provident Fund (Amendment) Scheme, 2010 - Amendment in paragraph 9
NOTIFICATION NO. GSR 956(E), DATED[protected]
In exercise of the powers conferred by sub-section (4) of section 3 of the PublicProvident Fund Act, 1968 (23 of 1968), the Cen¬tral Government hereby makes the following Scheme further to amend the Public Provident Fund Scheme, 1968, namely :—

1. (1) This scheme may be called the Public Provident Fund (Amendment)Scheme, 2010.
(2) It shall come into force on the date of its publication in the Official Gazette.

2. In the Public Provident Fund Scheme, 1968 in paragraph 9, in sub-paragraph (3), after the proviso, the following proviso shall be inserted, namely :—
“Provided further that an account opened on behalf of a Hindu Undivided Family prior to the 13th day of May, 2005, shall be closed after expiry of fifteen years from the end of the year in which the initial subscription was made and the entire amount standing at the credit of the subscriber shall be refunded, after making adjustments, if any, in respect of any interest due from the subscriber on loans taken by him. In the case of accounts opened on behalf of Hindu Undivided Family, where fifteen years from end of the year in which initial subscription was made, has already been completed, they shall also be closed at the end of the current year, i.e., the 31st day of March, 2011 and the entire amount standing at the credit of the subscriber shall be refunded, after making adjustments, if any, in respect of any interest due from the subscriber on loans taken by him.”
Dinesh joothawat B com LLb gen FCA FCS [protected]
email [protected]@hotmail.com