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    Aadhaar linked post office savings account also eligible for govt subsidy transfer


    The circular has come after the government in April 2020 issued common application forms for investing in Public Provident Fund (PPF), National Savings Scheme and other small savings schemes. The circular was issued by Department on Posts on August 11, 2020.

    It is mandatory to link your Aadhaar number with your bank account to receive govt subsidies.
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    You can now get direct benefit transfer (DBT) of government subsidies, if eligible, in your post office savings account by seeding your Aadhaar in it. The Department of Posts issued a circular in this regard on August 11, 2020.

    As per the circular, "In order to facilitate the POSB Account holder to avail DBT benefits in their Post Office Savings Account, the competent authority has decided to incorporate column for Aadhaar Seeding in "Application for Opening of Account /Purchase of Certificate" form for benefits of the depositors and ease of operation."

    The circular has come after the government in April 2020 issued common application forms for investing in Public Provident Fund, National Savings Scheme and other small savings schemes.

    Also Read: Common application form issued for PPF, NSC and other small savings schemes

    As per the Supreme Court decision on the constitutional validity of Aadhaar, it is not mandatory to link your bank account with your Aadhaar number. However, in order to avail the benefit of government subsidies such as pension, LPG subsidy etc., it is mandatory to provide your Aadhaar number in your bank account. Thus, from the circular issued, it seems that post office savings account holder can also provide their account details to the respective government authority to receive subsidy benefits.

    For existing post office savings account holders, an application form - 'Application for linking/seeding and receiving DBT benefits into POSB account' has been issued. The existing account holder can submit their Aadhaar details to the concerned post office branch for linking/seeding of Aadhaar number with the account number.

    The concerned form can be accessed here.

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