Personal Finance

Update: Your investments in schemes such as Public Provident Fund (PPF), National Savings Certificate (NSC), and other post office schemes will be frozen.

If you have investments in schemes like Public Provident Fund (PPF), National Savings Certificate (NSC), Senior Citizens Savings Scheme (SCSS), or any other post office scheme, it is important to ensure that your Aadhaar number has been submitted to the post office or bank branch by September 30, 2023.
Failure to do so will result in the freezing of your small savings investments until the Aadhaar number is provided.

This is because the Ministry of Finance has made it mandatory to link Aadhaar with small savings schemes.
According to a notification dated March 31, 2023, individuals who have not submitted their Aadhaar number to the Accounts Office within six months of the notification, i.e., by September 30, 2023, will face consequences such as no interest being credited to their bank account, inability to deposit money into their PPF or Sukanya Samriddhi Accounts, and not receiving the maturity amount in their bank account.

Disclaimer: The information provided in this post is based on online sources. However, the reader is strongly advised to verify the information and check for any updates or corrections by referring to the official government notification or website. The author and publisher of this post do not guarantee the accuracy, completeness, or reliability of the information provided, and shall not be held responsible for any loss or damage caused directly or indirectly by the use of such information. The reader is solely responsible for any decisions or actions taken based on the information provided in this post.

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