In this digital age, where information is just a click away, keeping up with deadlines has become more important than ever. As we head towards the end of 2023, it’s essential to stay informed about the impending financial deadlines that can significantly impact our lives.
Here is a look at the four crucial deadlines that you should be aware of for December:
Mutual fund nomination
Nomination allows investors to designate someone who can claim their securities or mutual fund redemption proceeds if they pass away. The deadline for existing demat account holders and mutual fund unit holders to choose a nominee is December 31, 2023. Previously, this deadline was September 30, 2023, but it has been extended by Sebi.
Free updation of Aadhaar details
The deadline to update Aadhaar details online for free is December 14, 2023. The UIDAI is urging residents to upload Proof of Identity and Proof of Address documents, especially if their Aadhaar was issued 10 years ago and has never been updated.
You need to visit myAadhaar portal to update details. Please note that there is a fee of ₹50 for updating details at physical Aadhaar centres. Free updates are only available online and not at physical centres.
Inactive UPI IDs
In a circular released on 7 November, the National Payments Corporation of India (NPCI) has directed payment apps and banks to disable UPI IDs and numbers that have remained inactive for over a year.
By December 31, 2023, Third-Party App Providers (TPAP) and Payment Service Providers (PSP) are obliged to adhere to the following actions and incorporate them as per the latest guidelines.
Revised bank locker agreement
The Reserve Bank of India (RBI) has introduced new regulations regarding safe deposit lockers, requiring customers to sign a new agreement with their banks. Customers may use the lockers only if they continue paying the rent and the deadline to comply with this agreement is December 31, 2023.
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Updated: 30 Nov 2023, 05:40 PM IST