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Aadhaar for Saving Schemes: Aadhaar is necessary for investing in any small saving scheme. When you open an account to invest in any small savings scheme, Aadhaar is required at that time. Without this, you cannot avail of any financial service. Read more

Aadhaar for Saving Schemes: What Aadhaar is necessary for investing in small saving schemes like the Public Provident Fund (PPF), Senior Citizen Saving Scheme (SCSS), Sukanya Samriddhi Yojana (SSY). This question keeps running in almost everyone's mind. In today's time, Aadhaar has become the most important document of our identity. Therefore, it is necessary to have Aadhaar for investing in any small savings scheme. When you open an account to invest in any small savings scheme, Aadhaar is required at that time. Know why Aadhaar is mandatory.

Why is Aadhar necessary?

In a notification dated April 3, 2023, the Finance Ministry had said that as per the Government Savings Incentive General (Amendment) Rules, 2023, an individual will also have to submit documents for identity and address proof at the accounts office. Aadhar number will be required to open an account. According to this notification, in cases where a person does not have an Aadhaar number, he will have to register for Aadhaar and then use the registration proof to invest in the Small Savings Scheme.

Account will be closed

According to the notification, if the investor does not submit the Aadhaar number within six months of opening the account, then his account will be closed and it will not be activated until he submits the Aadhaar number.

Important identity document

Aadhaar is an important document of our identity in today's time. Without this you cannot avail any financial service. Apart from this, if you want to avail the benefits of any government scheme, then Aadhaar is necessary. Aadhaar number is issued to any person only once in his lifetime. Personal details of a person are recorded in Aadhaar data.

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