The Aadhaar card, a 12-digit unique identification number issued by the Unique Identification Authority of India (UIDAI), is mandatory to be linked with a host of essential services. The Aadhaar card, which is based on the biometric and demographic data, of Indian citizens, has to be linked with bank accounts, permanent account numbers (PAN), financial services like public provident fund (PPF), national savings certificates (NSC), Kisan Vikas Patra, mobile phone numbers (SIMs) and insurance policies, among other things. The deadline for linking Aadhaar card with all these services is March 31, 2018.
The earlier deadline was December 31, 2017, which was extended by the Supreme Court.
Linking Aadhaar card with bank accounts/financial services/PPF/NSC/PAN
Those already holding bank accounts are required to furnish the Aadhaar card number, failing which the account will cease to be operational, according to a notification from the revenue department.
(Also Read: How To Link SBI Bank Account With Aadhaar Card)
For opening a post office account or investing in small savings schemes such as National Savings Certificates (NSC), Public Provident Fund (PPF) and Kisan Vikas Patra, Aadhaar is a must. While Aadhaar holders are required to mandatorily produce the Aadhaar, those not having an Aadhaar card or Aadhaar number as yet can quote the EID or enrolment identity number of their Aadhaar application, the government has said. Existing depositors can update their Aadhaar number.
Linking Aadhaar card With Insurance Policies
According to a government directive, Aadhaar and PAN have to be linked with insurance policies. India's biggest life insurer LIC, for example, has provided both online as well as offline facilities to its policyholders for linking Aadhaar and PAN to insurance policies.
Linking Aadhaar card with SIMs
The government has said that it is mandatory for Aadhaar to be linked with mobile SIM.
Aadhaar-mutual fund linking
Whether you are a first time investor to mutual funds or seasoned investor, new regulations under the Prevention of Money Laundering Act (PMLA) have mandated that everyone must link their Aadhaar card number to their mutual funds profile.
Linking Aadhaar card with social security schemes
Aadhaar is mandatory to be linked with social security schemes like cooking gas or LPF connection, pension etc.