Deadlines of various important schemes and government policies are approaching in September including ₹2000 note deposit/exchange, submission of Aadhaar number for small saving schemes, and free Aadhaar update. Most of these deadlines have already been extended and now tentatively end by next month’s end.
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Here are seven important financial deadlines to watch out for in September-
Last date to return ₹2000 notes
The finance ministry seems firm on the Reserve Bank of India (RBI)’s original deadline of September 30 to deposit or exchange ₹2000 notes. In a written reply in the Lok Sabha in late July, minister of State for finance Pankaj Chaudhary replied in negative to a question about whether there is a proposal to extend the deadline for the exchange of ₹2000 in banks beyond September 30. On May 19, the RBI announced the withdrawal of ₹2,000 notes from circulation but gave the public more than four months to either deposit such notes in accounts or exchange them at banks.
Submission of Aadhaar number for small saving schemes
In a notification dated March 31, the finance ministry gave a six-month period till September 30 to submit Aadhaar number for updating Know Your Customer (KYC) to subscribers having invested in small saving schemes like PPF, Sukanya Samriddhi Yojana (SSY), National Savings Certificate etc. For existing subscribers, their account will be frozen from October 1, if they fail to furnish their Aadhaar number with their small savings account within the given deadline.
Nomination deadline for demat, trading accounts
The Securities and Exchange Board of India (Sebi) in March extended the last date for existing eligible trading and demat account holders to nominate a beneficiary for their accounts till September 30, reported Live Mint. Earlier, the date to comply with this rule was March 31, 2022. However, Sebi, in a circular dated February 24, 2022, had extended this deadline by one year to March 31, 2023.
Aadhaar free update
The Unique Identification Authority of India (UIDAI) in June extended the deadline for free Aadhaar card update by three months till September 14. “The service of uploading documents PoI/PoA as mentioned in the list of acceptable documents to revalidate your credentials through my Aadhaar portal (SSUP) is now free of cost till 14.09.2023,” UIDAI said in a tweet.
Revision of Axis Bank Magnus Credit Card terms & conditions
Axis Bank through a circular informed that the annual fee will be updated from ₹10,000 + GST to ₹12,500 + GST for customers on-boarded from September 1. The annual benefit of a voucher worth ₹10,000 will be discontinued. Monthly milestone benefits of 25,000 EDGE Reward Points on monthly spends of ₹1,00,000 will be discontinued from September 1.
SBI WeCare FD for senior citizens
The State Bank of India (SBI) has extended its deadline for its special fixed deposit scheme for senior citizens – SBI WeCare, which offers higher interest rates to the elderly on tenures between 5 years to 10 years. SBI WeCare has been extended to September 30, reported Live Mint. The scheme is available on fresh deposits and renewal of maturing deposits.
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IDBI Bank extended the validity period for its special FD scheme “Amrit Mahotsav” which offers interest rates in the range of 7.10% to 7.65% for two tenures. The “Amrit Mahotsav FD” is now extended till September 30 In this scheme, senior citizens earn higher interest rates than compared to general individuals.
