The month of September is bringing many changes. These changes are going to happen especially in the financial sector. Some of these changes have come into effect from the first day of the month, while some will come into effect later. Some big changes are being communicated to you, which can have a big impact on people’s money and budget. These changes also pertain to Aadhaar updating and linking identity documents with PAN cards. Axis Bank credit card holders will also be affected by the changes that will come into force from this month.
Changes in Axis Bank
Pay more with Axis Bank Magnus Credit Card today. Bank has informed about changes in terms and conditions. The bank has made the biggest change in the annual fee for this card. In this amendment, the annual fee of the card has been increased from ₹10,000 (GST exclusive) to ₹12,500 (GST exclusive). The facilities offered with the card have also been improved.
Matter related to Aadhaar Card
The free deadline for updating details in Aadhaar card ends this month. Let us know that the Unique Identification Authority of India (UIDAI) extended the last date from June 14 to September 14, 2023. The scheme was launched for those citizens who got Aadhaar 10 years ago and have not updated it since then.
Item related to 2000 note
People will also get a last chance to exchange ₹2,000 notes by the end of this month. The Reserve Bank of India (RBI) said in May that people can deposit Rs 2,000 notes at exchanges or in their bank accounts. The central bank said people will be able to deposit or exchange low-value notes up to Rs 20,000 till September 30.
Rules related to PPF and Post Office
From the beginning of the current financial year, the Finance Ministry has made Permanent Account Number (PAN) and Aadhaar card mandatory for investing in small savings schemes like Public Provident Fund (PPF), Post Office Savings Scheme and Senior Citizens Savings Scheme (SCSS). . Existing customers will have to register Aadhaar number by September 30, or else their accounts will be frozen.
Trading and Demat Accounts
There is another time limit for nomination facility for trading and demat accounts that people need to keep in mind. In March this year, the Securities and Exchange Board of India (SEBI) extended the registration or exit time for these account holders. Currently the revised deadline is 30 September.