PPF, NSC, Sukanya Yojana, Senior Citizen Savings: Failing to submit these 2 key documents may turn your accounts dormant
If you have invested in any of these savings schemes like Public Provident Fund (PPF), Sukanya Samriddhi Yojana (SSY), Senior Citizen Savings Scheme (SCSS) and National Saving Certificate (NSC), you need to provide two key documents Aadhaar and PAN to the accounts office of the respective financial institution, if not submitted them yet.
If you fail to submit these key documents within the specified period, your account will be dormant until the documents are submitted.
It is now mandatory to provide Aadhaar to invest in small savings schemes like PPF, SSY, SCSS and NSC. Opening a fresh account in any of the small savings schemes needs Aadhaar card details of the applicant.
In a notification issued last year, the government said that an individual shall submit to the accounts office, the following identity documents containing proof of identity and address for the purpose of opening an account. The documents are – Aadhaar, issued by the Unique Identification Authority of India UIDAI, and PAN.
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Where Aadhaar number has not been assigned, investors may furnish proof of application of enrollment for Aadhaar at the time of opening an account and the account holder shall furnish the Aadhaar number to the accounts ofice within a period of six months from the date of opening of account for linking the account with Aadhaar, the notification by the Finance Ministry said.
If a depositor has already opened an account and has not submitted his Aadhar to the accounts offfice, he shall do so within a period of six months with effect from April 1, 2023.
In the event of faliure of the depositor to submit the Aadhaar number within specified period of six months,
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