Mutual Fund rule change to ₹2000 note: Seven monetary changes that may impact your money matters
₹2,000 notes. This could be the last month to invest in banks' special fixed deposit (FD) schemes introduced by some lenders The market regulator Securities and Exchange Board of India (SEBI) has introduced a regulatory framework for a execution only platforms for direct plans of mutual fund schemes. The new rules will make it convenient for investors to make investments via Execution Only Platforms (EOPs) as well as appropriate investor protection mechanisms; and help with ease of doing business .
The new framework would be applicable from September 1, the Securities and Exchange Board of India (Sebi) said in its circular. The Reserve Bank of India (RBI)had given nearly four months to deposit or exchange notes worth ₹2000. “Banknotes in the denomination of ₹2000 must be exchanged or deposited by September 30, 2023," RBI had said in the circular.
The central bank had also said that the notes would continue to be accepted as legal tender beyond September 30, 2023. The second instalment of advance tax for the assessment year 2024-25 should be paid by 15th September. UIDAI has extended the free Aadhaar update of documents till 14 September 2023.
Earlier, the free service was available till 14 June 2023 only. This service is, however, free only on the myAadhaar portal and attracts a fee of ₹50 at physical Aadhaar centres. SEBI has extended the deadline for existing eligible trading and demat account holders to nominate a beneficiary for their accounts to September 30, 2023.
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