7 Important Things that changed from this Month: Must Check!

New Delhi :

To ensure you’re well-prepared, here’s a comprehensive list of seven essential tasks that require your attention:

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1. Last Chance to Exchange Rs 2,000 Notes

The Reserve Bank of India (RBI) has granted a four-month window to deposit or exchange Rs 2000 notes.

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This opportunity will conclude on September 30, 2023. If you intend to deposit or exchange these notes, be sure to verify the list of bank holidays in your state prior to visiting the bank.

2. Aadhaar Update: Deadline Extended

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The Unique Identification Authority of India (UIDAI) has extended the deadline for free Aadhaar document updates by an additional three months, until September 14, 2023.

3. SBI We Care: Senior Citizens’ FD Scheme

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The State Bank of India (SBI) has prolonged the deadline for investing in its specialized FD scheme, SBI WeCare, for senior citizens.

This extended deadline now stands at September 30, 2023. By investing in this scheme, senior citizens can enjoy an extra 50 basis points (bps) in interest, with an attractive interest rate of 7.50 percent.


4. SEBI’s Demat Nomination Extension

The Securities and Exchange Board of India (SEBI) has extended the deadline for trading and demat account holders to enroll or opt-out of enrollment until September 30, 2023.


5. Mandatory PAN-Aadhaar Link for Small Savings Scheme

Small Savings Scheme account holders are now required to link their PAN and Aadhaar numbers by September 30, 2023. Failure to comply with this directive may result in the closure of your account.

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New users aiming to invest in or initiate a small savings scheme must submit their Aadhaar number within six months of account opening.

6. IDBI Amrit Mahotsav FD Rates

IDBI Bank’s Amrit Mahotsav FD scheme offers enticing interest rates for different customer categories.

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For general customers, NRE, and NRO, the scheme provides an interest rate of 7.10 percent, while senior citizens can enjoy an even higher rate of 7.60 percent.

Additionally, under this scheme’s 444-day tenure, general citizens can avail an interest rate of 7.15 percent, while senior citizens are offered an impressive 7.65 percent.

7. Changes in Axis Bank Magnus Credit Card Terms

Axis Bank has announced that notable alterations will be made to the terms and conditions of their Magnus Credit Card, effective September 1, 2023. Starting September 1, customers using the Axis Magnus Credit Card can earn 12 EDGE Reward Points for every Rs 200 spent on a cumulative monthly expenditure of up to Rs 1,50,000.

Moreover, new cardholders will experience an increased annual fee of Rs 12,500 + GST, while existing users will pay Rs 10,000 + GST.

By keeping track of these impending deadlines,

you can ensure that you remain informed and well-prepared for the financial changes and opportunities that September will bring.


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