September is coming with a lot of changes at the financial front. Some of the changes will come into effect on the at the beginning of the month while others will come into effect in the later half.Here is the list of some big changes that people will notice and will have huge impact on finances. These changes are also connected to Aadhaar update and linking of the identity document with the PAN card.Here are some of the changes:Updating Aadhaar CardThe last date to update details in the Aadhaar card for free will come to an end this month. According to the sources, Unique Identification Authority of India (UIDAI) had extended the last date to September 14, 2023 from June 14. The decision was taken by the government keeping people in mind those who got their Aadhaar issued 10 years ago and have not updated yet.Deposit or exchange of ₹2,000 denominationReserve Bank of India (RBI) has given a last chance to people to exchange ₹2,000 notes. According to the new update, people can exchange or deposit the denomination them in their bank accounts till September 30 for up to ₹ 20,000 at a time.Compulsion of PANMinistry of Finance at the beginning of the current financial year, made the Permanent Account Number (PAN) and Aadhaar card compulsory for investing in small saving schemes like Public Provident Fund (PPF), Post Office Saving Scheme and Senior Citizens Saving Scheme (SCSS). In addition to this, the existing subscribers, have to submit the Aadhaar number by September 30, else their accounts will get frozen.Nomination for existing individual investorsAnother change that people will have to come through is nominating and opting-out confirmation in case of new mutual fund (MF) investors for folios created from October 1, 2022. Nomination in folios held by investors where folio was created prior to October 1, 2022, must be complied with on or before September 30 by either submitting nominee details or by providing opt-out declaration.Nomination in trading or demat accountsAnother thing that people have to keep tab on is the nomination facility for trading and demat accounts. Notably, Securities and Exchange Board of India (SEBI), this year in March, extended the time line for the holders to make or opt out of nominations by September 30, 2023.Changes in nomination of mutual fund investorsAnother change that people will have to come through is nominating and opting-out confirmation in case of new mutual fund (MF) investors for folios created from October 1, 2022. The date for making changes has been extended till September 30.
