Aadhar a must for PPF, Post Office, Kisan Vikas Patra deposits

 

Now, Aadhar a must for PPF, Post Office, Kisan Vikas Patra deposits

The Indian Government has announced to link the different investment schemes with Aadhar card. The government aims at linking investment schemes offered by banks, financial institutions and post offices. The new move has been taken by the government with an aim to obtain related biometrics of each depositor along with their contact details. Apart from this, the scheme will also help government track overall money invested in these deposit schemes.

Final Date for Linking Aadhar card

On the basis of government notifications, all depositors are expected to provide with their valid Aadhar card number details, latest by 31st Dec 17.

Important points

  • According to the government officials and notifications, the very idea of linking Aadhar card with various schemes has become compulsory for every person.
  • Depositors have to link their investments made in different deposits schemes offered by Post office, Provident funds, Vikas Patra (Kisan) and National savings plans (NSCS) with Aadhar cards.
  • The government has decided to offer investors and depositors with time limit extension of over three months till December end. During this time frame, depositors have to link their deposit accounts with Aadhar cards.
  • The related government authorities have issued with notifications to the various banks and post offices making the process of linking Aadhar cards mandatory. The same will be true for any depositor who wants to make deposits from now onwards.
  • In case the depositor is presently not having his or her Aadhar card number, then he or she will have to provide with enrollment proof under the Aadhar card application latest by September 29 /17.
  • According to the notifications the government has already made it very clear that any depositor who has been operating account with the post office, but had not provided with their Aadhar card number, then it is expected by them to provide with the details of Aadhar card at the respective post office or private bank before the above mentioned due date.

Benefits of extension under notifications

  • Under the extension scheme of providing and linking Aadhar card ID number has further been extended for all government sponsored schemes including all government subsidies till the due date of 31 Dec. People who are enrolled under any such subsidy or scheme will have an additional time of three months to provide with their Aadhar card number.
  • As per the new extension scheme the central and state government has announced the coverage of over 135 distinct scheme issued by thirty-five Ministries in the country.
  • The various schemes falling under the extension program will include PDS (Distribution system for public), Fertilizer and Kerosene subsidy, MGNREGA and LPG gas subsidy schemes.
  • With an aim to cover the benefit of the extension scheme for all government related scheme the government has decided to implement the extension for the beneficiaries enrolled under any such government related scheme till the due date.

Beneficiary schemes and programs under the extension scheme

  • The government has already made it clear that the scheme will offer benefit to various employees who have been enrolled under the 1995 government pension programs, ST/SC candidates who have been gaining stipend under training programs for vocational and guidance programs.
  • The government has also extended the benefit of extension to employees who had earlier been registered for various government Bima Schemes (Aam Aadmi) and physically handicapped person who is enrolled for stipend.
  • The extension scheme includes various skills oriented apprenticeship schemes and training programs for linking process.
  • The government has offered with extension facility for other schemes including scholarship programs, internships, crop insurance, subvention schemes and educational programs to be linked with Aadhar cards.

Beneficiaries

  • The extension scheme will offer benefit to the people who have not yet applied for the enrollment under the Aadhar card.
  • People who have not yet linked their Aadhar card with various schemes can take full benefit of the extension period.

The government has already made it very clear that the extension is provided with an aim to help government track and regulate the amount of money that is been invested in various deposit schemes. This move will also help government track black money invested in the current market.

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