New Financial Regulations Set To Take Effect From September 1

A number of new financial regulations will come into effect from September 1, including the exchange or deposit of Rs 2000 notes, submission of Aadhaar numbers for small saving schemes, and free Aadhaar updates.

It is to be mentioned that most of these deadlines are currently scheduled with deliberation to conclude at the end of the month after being extended.

Deadline to exchange Rs 2000 Notes

The Reserve Bank of India (RBI) has issued an order to replace the Rs 2,000 notes. The deadline for exchanging these notes is set for the Septemeber 30, granting ample time to avail oneself of this opportunity (2000 Rupee Note Exchange).

IDBI Amrit Mahotsav FD

IDBI Bank offers a special FD scheme, the Amrit Mahotsav FD Scheme. The general citizen receives 7.10 percent interest and the senior citizen receives 7.60 percent interest in this 375-day FD scheme. The common citizen receives interest at a rate of 7.15 percent under the FD of 444 days, while elderly citizens receive interest at a rate of 7.65 percent.

Nomination last date for demat, trading accounts

The deadline for submitting nominations or withdrawing from a nomination for owners of trading and demat accounts has been extended by the Securities and Exchange Board of India (SEBI). The revised last date is September 30.

Free Aadhar Updates

After September 14, the Unique Identification Authority of India (UIDAI) will no longer offer free Aadhaar card updates. As a result, from this date, everyone who wants to upgrade their Aadhaar card will have to pay a cost of Rs 50.

SBI WeCare scheme deadline

For senior citizens, the State Bank of India (SBI) offers the SBI WeCare fixed deposit (FD) scheme. Senior adults can benefit from this scheme by earning an interest rate of 7.5 percent for a duration of 5 years or more. The scheme is open until September 30.

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