RBI has notified the increase in deposit money under Public Provident Fund, PPF to 1.5 lakh rupees from 1 lakh rupees earlier. This is in pursuance to an announcement made by the Finance Minister Arun Jaitley earlier this month. After the new ruling, people can now deposit up to 1.5 lakh rupees annually in their PPF account. In a notification issued from Mumbai on Friday, RBI has asked all banks to communicate the same to their branches operating the PPF scheme. The Finance Minister had raised the investment limits in tax saving schemes with an aim to encourage household savings.