<h1>India Proposes Merging Savings Acts to Simplify Regulations, Enhance Access, and Introduce Grievance Redressal Mechanism.</h1> The Government of India has proposed amendments to the Small Savings Act, aiming to merge the Government Savings Certificates Act, 1959, and the Public Provident Fund Act, 1968, into the Government Savings Banks Act, 1873. This consolidation seeks to simplify the regulatory framework for depositors while retaining existing protections and benefits. New provisions include easier premature closure of accounts for emergencies, clearer rights for nominees, and improved access for minors and differently-abled individuals. The amendments also introduce a grievance redressal mechanism. There will be no changes to interest rates or tax policies, and existing small savings schemes will continue.