Missing financial deadlines can result in penalties and charges, which can erode your savings.
As the year draws to a close, it’s essential to stay aware of important financial deadlines that could impact your money matters. By staying informed about these deadlines, you can make informed decisions and safeguard your financial interests.
Missing financial deadlines can result in penalties and charges, which can erode your savings. For instance, if you fail to update your Aadhaar details by the deadline, you may have to pay a fee for doing so.
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Here are some important money deadlines in India for December 2023:
Deadline for Aadhaar updation: The Unique Identification Authority of India (UIDAI) has extended the deadline for free Aadhaar updation to December 31, 2023. This means that you can still update your Aadhaar card with your latest demographic details (address, phone number, email address) for free. After December 31, 2023, you will have to pay a fee for Aadhaar updation.
Deadline for revising bank locker agreements: The Reserve Bank of India (RBI) has set a phased deadline for banks to execute revised locker agreements with their customers. The deadline for the first phase is December 31, 2023. The new locker agreements will have some important changes, such as a higher limit on the compensation that banks will be liable to pay in case of loss or damage to the contents of a locker.
Deadline for submitting nomination for demat accounts: The Securities and Exchange Board of India (SEBI) had extended the deadline for submitting nomination forms for demat accounts to December 31, 2023. A nomination form allows you to specify who should inherit your demat securities in case of your death.
Deadline for investing in special fixed deposits: Some banks are offering special fixed deposits with higher interest rates till December 2023. However, there is a deadline for investing in these deposits. For example, the last date for investing in Indian Bank’s “Ind Super 400” and “Ind Supreme 300 days’ ‘ fixed deposits is December 31, 2023. Similarly, SBI Amrit Kalash FD is also taking deposits till the last day of December.
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The State Bank of India’s Amrit Kalash fixed deposit scheme was earlier valid till August 15. SBI launched this special FD scheme on February 15, 2023. The Amrit Kalash Deposit scheme is available to domestic and NRI customers. Interest on this fixed deposit can be availed at monthly, quarterly or half-yearly intervals. Interest deducted from TDS gets credited to the customer’s account.
