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Finance Ministry makes Aadhaar mandatory for small saving schemes

Oct 7, 2017 10:30 IST
Finance Ministry makes Aadhaar mandatory for small saving schemes

The Union Government has made the biometric identification, Aadhaar mandatory for all post office deposits, PPF, the National Savings Certificate scheme and Kisan Vikas Patra.

The information was shared by the Finance Ministry through four separate Gazette notifications. The identity card would now be a must for opening all post office deposit accounts, Public Provident Fund, National Savings Certificate scheme and Kisan Vikas Patra deposits.

The government has given time to the existing depositors who have not provided Aadhaar number at the time of application for such deposit to submit their Aadhaar number to the post office savings bank or deposit office concerned, on or before 31 December 2017.

The government has insisted on quoting Aadhaar for bank deposits, obtaining mobile phone and several other utilities to weed out benami deals and black money.

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Background

• The government in September 2017 extended the deadline for obtaining Aadhaar for availing government schemes and subsidies by three months to 31 December 2017.

• Earlier the deadline was 30 September 2017.

• The extension would cover as many as 135 schemes including free cooking gas to poor women, kerosene and fertiliser subsidy, targeted public distribution system and MGNREGA.

• The government had previously made quoting of Aadhaar necessary for availing government benefits and subsidies like those on cooking gas LPG.

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