What is the main purpose of the Public Provident Fund (PPF)?

To provide short-term loans To encourage small savings and provide long-term investment returns To facilitate daily transactions To fund entrepreneurial ventures

What is the current interest rate offered on PPF investments?

6.5% per annum 7.1% per annum 8.0% per annum Variable, depending on market conditions

When can an individual make a partial withdrawal from their PPF account?

After 1 year from account opening After 3 years from account opening After 6 years from account opening Only after the account matures

What is the maximum percentage of the accumulated corpus that can be withdrawn partially from a PPF account?

25% 50% 75% 100%

What is the key requirement for extending a PPF account with additional contributions?

Submitting Form H within one year of the original maturity date Making a minimum additional contribution of Rs. 10,000 Maintaining a minimum balance of Rs. 50,000 No specific requirements, automatic extension is available

Which of the following situations allows for premature closure of a PPF account?

Purchasing a new vehicle Funding a wedding Financing a child's higher education Starting a new business

What is the tax implication on withdrawals from a PPF account?

Withdrawals are taxed at the individual's income tax slab rate Withdrawals are subject to a 10% capital gains tax Withdrawals are exempt from taxation Tax implications depend on the withdrawal amount

How can an individual apply for a withdrawal from their PPF account?

Through online banking platforms By submitting Form C at the respective bank branch By contacting the National Savings Institute directly Withdrawals can only be made after account maturity