Highlights

  • RBI has set new rules for safe deposit lockers require customers to sign a new agreement with their banks
  • EPFO has extended the date for filing applications to opt for a higher pension

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From PAN-Aadhaar linking to bank locker rules: list of personal finance deadlines you can’t miss in June

Editorji brings you the upcoming June deadlines you need to be aware about

From PAN-Aadhaar linking to bank locker rules: list of personal finance deadlines you can’t miss in June

Almost first half of 2023 is over as the sixth month of the year- June has begun. The month of June comes with a lot of personal finance deadlines.

Editorji brings you the upcoming deadlines you need to be aware of:

1. First on our list is PAN-Aadhaar linking deadline. After giving a series of extensions, the Income Tax Department has set June 2023 as the final deadline for seeding the two important documents.

2. Update your Aadhaar- Talking about Aadhaar, the Unique Identification Authority of India (UIDAI) announced free updates for Aadhaar documents in March so that individuals could update any information on their Aadhaar card, e.g address, etc. However, this free service is only available till June 14.

After June 14, changes in such updates will charge a fee of ₹50 for document updates. To update Aadhaar documents, you can use the myAadhaar portal.

3. Bank locker rules: Reserve Bank of India (RBI) has set new rules for safe deposit lockers require customers to sign a new agreement with their banks. The RBI expects banks to achieve 50% enrollment by June 30, and 75% enrollment by September 30. As this deadline holds near, you may also be asked to renew your contract.

4. Higher EPS pension deadline
The Employees' Provident Fund Organisation (EPFO) has extended the date for filing applications to opt for a higher pension. This is the second time the EPFO has extended the deadline. If you want to opt for a higher pension, you have time till 26 June 2023 to do the same.

5. SBI WECARE FD Scheme: The scheme, which aims to ensure sufficient income for senior citizens aged 60 and above has extended the deadline to June 30, 2023. Under the 'WECARE' scheme, senior citizens get an additional premium of 50 basis points (bps) over and above the existing premium of 50 bps for the public.

6. SBI Amrit Kalash: SBI's Amrit Kalash Special FD also reaches its last date on June 30. This Fixed Deposit tenure spans 400 days. The interest rates for the general public and senior citizens are 7.10 percent and 7.60 percent, respectively.

7. Indian Bank special FD: Indian Bank introduced a unique Fixed Deposit scheme known as "IND SUPER 400 DAYS." Prospective investors have until June 30 to capitalize on this opportunity. The bank is offering an interest rate of 7.25 percent for the general public, 7.75 percent for senior citizens, and 8 percent for super seniors.

8. Last on our list is Mutual fund investing for minors. Securities Exchange Board of India (SEBI) introduced a set of rules relating to buying mutual fund units in the name of minor children through guardians. The new will come into effect from June 15, 2023.

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