Aadhaar and PAN Are Essential For This Scheme: The Ministry of Finance made an announcement on 31.03.2023 which states that the PAN (Permanent Account Number) and aadhaar number are essential for making small savings schemes like Public Provident Fund (PPF), SukanyaSamriddhiYojana (SSY), Post Office Saving Scheme, Senior Citizens Savings Scheme (SCSS), and more.
Before this, to open the small savings scheme it is not necessary to provide aadhaar and pan but now the customers should have to provide a pan and aadhaar to get seamless services. According to the source, the customers who have existing savings schemes should have to seed their aadhaar with their account by 30.09.2023 otherwise the accounts will be freezed from 01.10.2023.
If the new subscribers are failed to link, the accounts will be freezed after six months of account opening. PAN should be submitted within 2 months from the account opening. If the account holder fails, then their account will be frozen until they submit their PAN details said the report.