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Aadhar is now mandatory for PPF, KVP and post office deposits

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Aadhar is now mandatory for PPF, KVP and post office deposits

The Indian Government has made Aadhar identification compulsory in case of all PPF, post office, National Savings Certificate and Kisan Vikas Patra (KVP) deposits. Existing customers have time till the 31st of December, 2017 for furnishing the 12-digit Aadhar or unique identification number (UID).

Four distinct notifications have already been released by the Ministry of Finance, making Aadhar compulsory in case of opening these accounts. Aadhar numbers, if not available immediately, can be provided later on if the depositor offers proof of application for Aadhar enrolment as per the notification released on the 29th of September, 2017. Existing depositors have to furnish their Aadhar numbers to post office savings banks or other deposit offices before the deadline.

The Indian Government is emphasizing hugely on Aadhar for bank deposits, getting mobile phones and other utilities for weeding out black money and benami transactions in the system. The deadline for obtaining Aadhar has already been increased to the 31st of December, 2017. Earlier, the deadline was kept at the 30th of September, 2017. There are 135 schemes including free LPG, fertilizer subsidies, kerosene and PDS which will be covered by this Aadhar Extension along with the MGNREGA. The extension also applies in case of the EPS (Employees Pension Scheme), housing subsidy benefits, scholarships, stipends for handicapped, stipends for ST/SC trainees for coaching assistance cum vocational training and the Aam Aadmi Bima Yojana.

It also applies for national skill development and apprenticeship schemes, interest subvention schemes, crop insurance schemes, educational programmes like mid-day meals, fellowship and scholarship programmes and the Atal Pension Yojana. The extension applies only for those who have not got their Aadhar numbers or have not enrolled for Aadhar as of yet. Services will not be stopped in this interim period till the 31st of December, 2017.

 

 

 

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