PPF, SSY Account Holders: There is a big update for investors investing money in Senior Citizen Saving Scheme (SCSS), Public Provident Fund (PPF), National Savings Certificate (NSC) or other small savings schemes. These accounts can be frozen on October 1, 2023, if you do not do this
PPF, SSY Account Holders: There is a big update for investors investing money in Senior Citizen Saving Scheme (SCSS), Public Provident Fund (PPF), National Savings Certificate (NSC) or other small savings schemes. These accounts may be frozen on October 1, 2023, if you do not do this. Wherever you have a small savings account, update your Aadhaar. Update your Aadhaar in schemes like PPF, NSC, Time Deposit, Sukanya Yojana. If you do not do this then the small savings account will be frozen on October 1. It will remain frozen until you provide Aadhaar information. Now only two days are left to give information.
Aadhaar is necessary in small savings scheme
After the notification of the Finance Ministry, Aadhaar number has become mandatory. The Finance Ministry has made Aadhaar and PAN mandatory for PPF, NSC and other small savings schemes. This was notified through a notification issued on 31 March 2023. According to the notification, if a depositor has already opened an account and had not given the Aadhaar number in the bank or post office, then he will have to provide his Aadhaar number within six months from April 1, 2023. If this is not done, the account will be frozen.
Less time left
In case the investment made in the post office is frozen, you may suffer many types of losses. Investors will not be able to invest in their PPF or Sukanya Samriddhi account. Investors will not see the maturity money credit in their bank accounts. If the depositor does not submit the Aadhaar number, his account will become inactive until the Aadhaar number is deposited in the bank or post office. In such a situation, if you have invested in any small savings scheme and have not yet submitted your Aadhar card number, then you should not delay at all in doing so.
