Small Saving Scheme-Submit these documents immediately...

Small Saving Scheme-Submit these documents immediately...

Indian Finance Ministry has recently launched small savings schemes like Public Provident Fund (PPF), National Savings Certificate (NSC), Senior Citizen Savings Scheme (SCSS), sukanya Samriddhi Yojana (SSY), Mahila Samriddhi Yojana and others. Saving Scheme) has issued a notification for the submission of an Aadhaar Card and PAN Card. Failure to submit these documents will result in the closure of your account, restricting any investment, withdrawal or other transaction.

Earlier, there was no need to submit an Aadhaar card for investing in these schemes. However, from march 31, 2023, it is now necessary. In case a person does not have an Aadhaar card, they can provide Aadhaar Enrollment Slip or Enrollment Number as an alternative. It is necessary to give Aadhaar card within six months of opening the account.

If a person fails to submit their Aadhaar card within six months, their Small Savings Scheme account will be frozen and will not be reopened until the Aadhaar number is provided. Apart from this, it is necessary to submit a PAN card or Form 60 at the time of account opening. Failure to submit this document will result in the freezing of the investment account till the PAN card is provided within two months. Apart from this, the post office or bank may also require other documents.

Aadhaar and PAN card submission is now required by the Indian government in order to combat fraud and increase openness in microsavings programmes. By linking Aadhaar and PAN cards to small savings schemes, the government aims to eliminate any false identification and create a reliable database for investors. The government encourages individuals to comply with this notification as non-compliance may result in the closure or freezing of their Small Savings Scheme account.

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