Aadhaar, PAN becomes mandatory for PPF, SSY other small saving schemes2 min read 01 Apr 2023, 12:41 PM IST
PPF, SSY, SCSS, other small savings scheme investors need to furnish Aadhaar number by 30th September 2023 while new subscribers will have to submit the 12-digit UIDAI number within six months of account opening
PAN and Aadhaar number has become mandatory for making investments in small saving schemes like Public Provident Fund PPF), Sukanya Samriddhi Yojana (SSY), Post Office Saving Scheme, Senior Citizens Saving Scheme (SCSS), etc. The ministry of finance issued notification in this regard on 31st March 2023. These changes have been notified as part of KYC (Know Your Customer) for small saving schemes. Prior to this central government's notification, investment in small saving schemes was possible without submission of one's Aadhaar number. But, from now onwards, one will have to submit at least Aadhaar enrolment number for making investment in government-backed small saving schemes. The notification also made it clear that one will have to furnish PAN card on investment above a certain threshold.