Deadline to link your Aadhar with A/c may extend shortly


If you have not linked your account with Aadhar then don’t worry because Union government is likely to extend its deadline. Earlier deadline for linking Aadhaar with other financial investments/instruments was December 31. It has been cleared from the amendment in the Prevention of Money Laundering Rules made via a notification on December 12. The amendment removes the deadline of December 31 and replaces it with ‘a date to be notified by the government’.

It means that now the government can simply extend the date for linking of Aadhaar with bank accounts, mutual funds, insurance, PF accounts, post office schemes, and so on by issuing a notification.

The amendment made it clear that if the linking of Aadhaar is not done by the date to be notified by the government, the account of the individual would be blocked.

Earlier, the government had set a deadline for providing Aadhaar to financial institutions as December 31, 2017, which meant that the individuals were required to link their Aadhaar to bank accounts, credit cards, insurance policies, equity and mutual fund investments, small savings schemes like Public Provident Fund, Kisan Vikas Patra, National Savings Certificate, Sukanya Samriddhi Yojana and so on. You are also required to submit your Aadhaar details if you have taken a loan from a bank, housing finance company, or non-banking finance company.


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