April 17, 2024

A number of laws within the banking, monetary, expertise, and different industries will change in December. These new legal guidelines and laws will affect your day-to-day life in addition to your funds, it’s essential to know these adjustments in depth.

Main Adjustments In The Monetary And Tech World

SIM Card Rule Change December 2023

The brand new SIM card legal guidelines, which embrace necessary verification of SIM card sellers and the elimination of the choice for bulk connections, are scheduled to enter impact in India on December 1, 2023. The Division of Telecommunications (DoT) issued these new SIM card guidelines, which had been initially scheduled to take impact on August 1 however had been later postponed.

Adjustments to Locker Settlement Guidelines in December 2023

The deadline for renewing customer-bank locker agreements additionally expires in December. The Reserve Financial institution of India (RBI) prolonged the deadline for renewing locker agreements between purchasers and banks to December 31, 2023, initially of the present yr. The deadline was prolonged after it was found that many customers had not signed the amended settlement by January 1, the preliminary deadline for renewing agreements.

Adjustments to the Aadhaar Card Guidelines in December 2023

Aadhaar card customers might replace their Aadhaar knowledge at no cost until December 14 through the myAaadhar portal. The Distinctive Identification Authority of India (UIDAI) prolonged the deadline at no cost Aadhaar updates until December 14. The announcement got here after the earlier deadline of September 14, 2023.

Adjustments to UPI ID Laws in December 2023

Inactive unified funds interface (UPI) IDs and associated UPI numbers can be terminated by December 31, 2023, in line with Nationwide Funds Company of India (NPCI) regulation. In different phrases, customers should activate their UPI IDs or else all banks and third-party functions that present the UPI service will deactivate or shut down such IDs after December 31, 2023.

Adjustments to the Jeevan Pramaan Patra Rule in December 2023

The deadline for submitting a Jeevan Pramaan Patra, or life certificates, is November 30. Because of this, pensioners should resolve the difficulty now to proceed getting advantages. Even if you happen to submit the Jeevan Pramaan Patra after the deadline has handed, your pension won’t be issued till your life certificates is acquired by the Central Pension Processing Centres (CPPC).


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