December 2023 financial deadlines: Form mutual fund nomination to Aadhaar update; all you need to know

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deadlines that can significantly impact our lives.

Here is a look at the four crucial deadlines that you should be aware of for December: Nomination allows investors to designate someone who can claim their securities or mutual fund redemption proceeds if they pass away. The deadline for existing demat account holders and mutual fund unit holders to choose a nominee is December 31, 2023.

Previously, this deadline was September 30, 2023, but it has been extended by Sebi. The deadline to update Aadhaar details online for free is December 14, 2023. The UIDAI is urging residents to upload Proof of Identity and Proof of Address documents, especially if their Aadhaar was issued 10 years ago and has never been updated.

You need to visit myAadhaar portal to update details. Please note that there is a fee of ₹50 for updating details at physical Aadhaar centres. Free updates are only available online and not at physical centres.

In a circular released on 7 November, the National Payments Corporation of India (NPCI) has directed payment apps and banks to disable UPI IDs and numbers that have remained inactive for over a year. By December 31, 2023, Third-Party App Providers (TPAP) and Payment Service Providers (PSP) are obliged to adhere to the following actions and incorporate them as per the latest guidelines. The Reserve Bank of India (RBI) has introduced new regulations regarding safe deposit lockers, requiring customers to sign a new agreement with their banks.