Aadhaar, PAN becomes mandatory for PPF and other small saving schemes

Aadhaar and PAN have been made mandatory by the Central Government for investing in small savings schemes. After this decision, you will have to give Aadhaar and PAN to invest in small savings schemes like PPF, Sukanya Samriddhi Yojana, Post Office Savings Scheme, Senior Citizen Savings Scheme.

According to the notification issued by the Ministry of Finance from March 31, 2023, Aadhaar and PAN will now have to be given in KYC for investing in small savings schemes.

Earlier, investment in small savings schemes could be done without Aadhaar, but after this change, now Aadhaar number will have to be given for investment. Also, if you invest more than a limit, you will also have to provide the PAN number.

New rule for small savings schemes

According to the notification issued by the government, small savings subscribers will have to give their Aadhaar number by September 30, 2023, who have not yet given Aadhaar number while investing in PPF, SSY, NSC, SCSS or any other small savings scheme. If someone invests in a small savings scheme without Aadhaar, then Aadhaar or Aadhaar registration number will have to be given within six months.

Interest increased on small savings schemes yesterday

The government has increased the interest rates of small savings schemes for April-June 2023. The maximum increase has been made in the interest rate of National Savings Certificate (NSC). It will increase from 7 per cent to 7.7 per cent for the period April 1 to June 30, 2023.

The new rate for Sukanya Samriddhi Yojana has been increased from 7.6 percent to 8 percent. The interest rates on Senior Citizens Savings Scheme and Kisan Vikas Patra (KVP) have been reduced to 8.2 per cent and 7.5 per cent respectively. Earlier it was 8 percent and 7.2 percent.

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