5 Financial Updates From the Government of India You Must Know

byPriyanka JuyalLast Updated: March 14, 2024
5 Updates From the Government of India
5 Updates From the Government of India

Key Highlights:

  1. UIDAI extends free Aadhaar document updates until September 14.
  2. RBI’s deadline to deposit or exchange Rs 2,000 notes is September 30.
  3. PAN-Aadhaar linking is crucial by September 30 to avoid account suspension.
  4. SEBI extends the nomination deadline for trading and demat accounts to September 30.
  5. Government reduces LPG cylinder prices, providing relief to households from September 1.

In a month packed with financial implications, September is ringing alarm bells for everyone’s financial calendars. Missing these deadlines could spell trouble for your financial well-being. Here’s your essential rundown of the key money matters you need to know this September:

1. Last Chance to Update Aadhaar for Free

The Unique Identification Authority of India (UIDAI) has extended the window for a free Aadhaar document update by an additional three months, stretching the deadline from June 14 to September 14, 2023.

ReadAadhaar Card Update – How to do it Online and Offline?

2. Exchange Rs 2,000 Notes

The Reserve Bank of India (RBI) granted a four-month grace period for the deposit or exchange of Rs 2,000 banknotes. However, the clock is now ticking, and the last day to exchange or deposit these notes is September 30, 2023.

3. PAN-Aadhaar Link for Small Savings Schemes

For customers holding small savings scheme accounts, a critical deadline is on the horizon. Existing customers must ensure their Aadhaar number is linked by September 30, 2023. Failure to do so may result in the suspension of accounts starting October 1, 2023. New customers planning to begin an investment or a small savings plan must also provide their Aadhaar information within six months of opening their account.

Know: How to Check PAN Aadhaar Linking Status in a Few Easy Steps?

4. Demat Nomination Extension Alert

The Securities and Exchange Board of India (SEBI) has provided a time extension for trading and demat account holders to make nominations or opt out of existing ones. The revised deadline is set for September 30th, 2023.

Must read: How to Open Demat & Trading Account via Paytm Money

5. Decrease in LPG Cylinder Prices

In a significant decision aimed at providing relief to the general public, the government has reduced the monthly prices of LPG cylinders, effective from September 1, 2023. Recently, the Central Government announced a substantial reduction of Rs 200 in the price of 14.2 kg cylinders nationwide, easing the burden on households.

Know: How To Book a Gas Cylinder Online?

As we approach the final days of September, these financial deadlines take center stage, demanding attention and action. Stay informed, mark your calendar, and act promptly where needed to secure your financial well-being. Remember, being proactive in managing these financial matters can lead to greater financial security and peace of mind for you.

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