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Centre now makes Aadhaar mandatory for Post Office Deposits, PPF and KVP

Government have made biometric identification mandatory even for the post office deposits, PPF (Public Provident Fund), the National Savings Certificate scheme and Kisan Vikas Patra (KVP).

Ministry of Finance have issued a separate notification stating that Aadhaar is mandatory for opening all post office deposit accounts, Public Provident Fund and Kisan Vikas Patra (KVP).

Provided that where Aadhaar number has not been assigned, the depositors shall submit proof of application of enrollment for Aadhaar
the notification issued by Ministry of Finance on 29th September.

Also, the prevailing depositors still have time till December 31st 2017 to provide their biometric numbers.

However, the existing depositors who have not provided Aadhaar number at the time of application for such deposit

shall submit his Aadhaar number to the post office savings bank or deposit office concerned, on or before December 31st, 2017

Recently Government have mandated this 12 digit identification number to be linked with several other important Government documents PAN cards, bank accounts etc in order to get the benefits social security schemes provided by the Government.

Keeping the chaos and panic in mind, Government have extended the deadline for the linkages to December 31st. Also, those who didn’t have an Aadhaar card were asked to procure it by September 30th.

Also read https://rupeenomics.com/aadhaar-linking-5-important-dates-to-keep-in-mind/ to know more about the important deadlines of Aadhaar card.

As a result of the review of welfare schemes covered and to provide the benefits of such schemes to all eligible beneficiaries of the scheme, it has been decided to further extend the stipulated date in all such notifications up to December 31, 2017

an order dated September 26 said.

According to sources,

The extension would also apply for Employees’ Pension Scheme of 1995, scholarships, housing subsidy benefit, stipend to SC/ST trainees for coaching guidance and vocational training, stipend to handicapped and Aam Aadmi Bima Yojana

Also, this linkage is applicable for skill development schemes, national apprenticeship, crop insurance schemes, interest subvention schemes, scholarship and fellowship schemes, various education programmes such as mid – day meal for children and Atal Pension Yojana.

The notice also says

It is hereby clarified that this extension shall only apply to those beneficiaries who are not assigned Aadhaar number or those who have not yet enrolled for Aadhaar. Such beneficiaries are required to enrol for Aadhaar by December 31, 2017 and provide their Aadhaar number or enrollment ID

Recently, government has decided to cut down interest rates on small savings scheme which also includes PPF (Public Provident Fund), NSC (National Savings Certificate) and KVP (Kisan Vikas Patra) by 0.2 percentage points for the January – March quarter. This move has been taken to prompt the banks to lower the deposit rates.

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