Senior Citizens Welfare Fund: unclaimed public savings redirected to finance approved welfare schemes for elderly support. Establishes the Senior Citizens Welfare Fund as an interest-bearing public account receiving unclaimed amounts from specified small savings, PPF and EPF accounts; institutions must identify, notify and transfer unclaimed deposits annually on a net basis, after attempting contact and public notice. The Ministry of Social Justice and Empowerment is nodal and Secretariat host; a multi-ministry Committee administers the Fund, decides utilisation, submits budgetary requirements and meets at least twice yearly. The Fund finances approved schemes for financial security, healthcare, housing, education and research for senior citizens, with interest set annually by the Ministry of Finance and annual reporting required.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Senior Citizens Welfare Fund: unclaimed public savings redirected to finance approved welfare schemes for elderly support.
Establishes the Senior Citizens Welfare Fund as an interest-bearing public account receiving unclaimed amounts from specified small savings, PPF and EPF accounts; institutions must identify, notify and transfer unclaimed deposits annually on a net basis, after attempting contact and public notice. The Ministry of Social Justice and Empowerment is nodal and Secretariat host; a multi-ministry Committee administers the Fund, decides utilisation, submits budgetary requirements and meets at least twice yearly. The Fund finances approved schemes for financial security, healthcare, housing, education and research for senior citizens, with interest set annually by the Ministry of Finance and annual reporting required.
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