7 Key Financial Deadlines in September: ₹2000 Note Deposit, Free Aadhaar Update, and More

“Important Financial Deadlines in September: From ₹2000 Note Deposit to Free Aadhaar Update”

As September approaches, several crucial financial deadlines are on the horizon, ranging from the deposit/exchange of ₹2000 notes to Aadhaar updates and more. Most of these deadlines, which have already been extended, are tentatively set to conclude by the end of next month.

Here’s a rundown of seven significant financial deadlines to keep an eye on in September:

  1. Last Date to Return ₹2000 Notes: The Reserve Bank of India’s original deadline of September 30 remains intact for depositing or exchanging ₹2000 notes. Following the RBI’s announcement to withdraw these notes from circulation, the public was granted over four months to deposit or exchange them.
  2. Submission of Aadhaar Number for Small Saving Schemes: The finance ministry set a six-month window till September 30 for subscribers to submit their Aadhaar numbers for updating Know Your Customer (KYC) in schemes like PPF, SSY, and National Savings Certificate. Accounts of existing subscribers will be frozen from October 1 if they fail to furnish their Aadhaar numbers within the deadline.
  3. Nomination Deadline for Demat and Trading Accounts: Sebi extended the deadline to nominate beneficiaries for trading and demat accounts till September 30, offering more time to eligible account holders. The earlier deadline was March 31, 2022, which was extended by a year to March 31, 2023.
  4. Aadhaar Free Update Extension: The UIDAI extended the deadline for free Aadhaar card updates till September 14. The revalidation service through the Aadhaar portal for uploading documents (PoI/PoA) is now free of cost until this date.
  5. Axis Bank Magnus Credit Card Terms Update: Axis Bank revised the terms and conditions of the Magnus Credit Card, adjusting the annual fee and discontinuing certain benefits. These changes will be effective from September 1.
  6. SBI WeCare FD for Senior Citizens: The State Bank of India extended the deadline for its special fixed deposit scheme, SBI WeCare, designed for senior citizens. The scheme, offering higher interest rates on tenures between 5 to 10 years, will now be available until September 30.
  7. IDBI Amrit Mahotsav FD: IDBI Bank extended the validity of its “Amrit Mahotsav” FD scheme, offering varying interest rates for two tenures. This scheme is now available until September 30, with senior citizens benefiting from higher interest rates.

As September approaches, these deadlines serve as reminders for various financial actions. Stay informed and ensure timely compliance with these important dates.

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