Rs. 2,000 note exchange, free Aadhaar update: Know key deadlines
What's the story
The personal finance landscape in India is set to undergo a series of changes this month. From the deadline for exchanging Rs. 2,000 notes and an extended chance for free Aadhaar updates to new SEBI requirements for stock trading, there are many updates. These pointers will affect the lives of several people across the country. Let us have a look.
Deadline
The Rs. 2,000 note exchange deadline is September 30
Reserve Bank of India (RBI) has declared that September 30 will be the final day to exchange and deposit withdrawn Rs. 2,000 banknotes. However, these notes will still be accepted as legal tender beyond this date. Separately, the second advance tax installment for assessment year 2024-25 has to be paid by September 15. This tax is paid in four installments, and 15% of the total tax liability should be paid by June 15, and 45% by September 15.
Details
Free Aadhaar update deadline looms
The deadline for free Aadhaar updates is fast approaching, with September 14, 2023, being the last day to make any changes without incurring charges. After this date, updates will come with a fee, even on the myAadhaar portal. While the service remains free on the portal until the deadline, a charge of Rs. 50 is applicable at physical Aadhaar centers.
Insights
SEBI now requires nominees for demat accounts
The Securities and Exchange Board of India (SEBI) has mandated that all demat and trading account holders in India will require a nominee by September 30 this year. Investors will have to submit or withdraw nominations using the two-factor authentication login. This will be possible on trading platforms for depository participants and stockbrokers who will offer this service.
Policy
Axis Bank is lowering rewards for credit card holders
Axis Bank is set to implement significant changes to its Magnus credit card rewards program starting today. The adjustments include alterations to the reward point values and the exclusion of certain payment categories from the rewards system. Notably, new cardholders will no longer have access to the Tata CLiQ voucher as part of the rewards program.