It is mandatory for investors of Sukanya Samriddhi Yojana (Sukanya Yojana), launched for the better future of daughters, to link the account by submitting Aadhaar documents to continue the transactions in the account.
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The Finance Ministry has made it mandatory for Sukanya investors to link their accounts with Aadhaar and PAN for financial monitoring and security of account holders. A deadline has also been announced for this, if the link is not made before the deadline, the Sukanya account may freeze.
Interest rate on Sukanya Samriddhi Yojana
The central government has revised the interest rates on small savings schemes and all post office savings schemes for the June quarter. After the amendment, the interest rate on Sukanya Sukanya Samriddhi Yojana has increased to 8 percent, which was earlier 7.6 percent. The Finance Ministry has issued a circular on March 31, 2023, making it necessary for all Sukanya investors and investors of all small savings schemes to link the account of the scheme with Aadhaar (Aadhaar link with Sukanya).
Deadline for linking Aadhaar with Sukanya account
According to the circular of the Ministry of Finance, if the investor of Sukanya Samriddhi Yojana (Sukanya Aadhaar Linking Process) has opened the account before March 31, 2023 and has not submitted his Aadhaar number to the Accounts Office, then he Submit the Aadhaar to the concerned office within six months from April 2023.
Apart from this, the post office or bank where the Sukanya Samriddhi Yojana account has been opened can also be linked to the account by depositing Aadhaar. The last date for submission of Aadhaar is 30 September 2023. Sukanya account holders can also submit PAN along with Aadhaar.
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Such investors will have to link before June 30
Investors of Sukanya Yojana who are going to withdraw the account amount before 30th September or their account is maturing, such account holders will have to link Aadhaar with their Sukanya account before 30th June. Because, the Finance Ministry has announced the deadline for linking Aadhaar-PAN and the deadline for linking bank account with Aadhaar is June 30, 2023.
In such a case, if the bank account is not linked to Aadhaar before the stipulated deadline, it may be difficult to transfer the maturity amount of Sukanya to the investor’s bank account or withdraw money from the account. To avoid this problem, it would be better to link the account with Aadhaar before June 30.
What if Sukanya account is not linked to Aadhaar?
According to the Ministry of Finance, if the Aadhaar number is not linked to the Sukanya Samriddhi Yojana account within the given deadline, then the account will be frozen. In such a situation, the investor may have to face many problems.
The amount of interest payable will not be credited to the account of the Sukanya account holder. At the same time, even the Sukanya account holder will not be able to deposit the installment. Whereas, on maturity of Sukanya Samriddhi Yojana, the amount will not be transferred to the bank account specified by the account holder.
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