5 Financial And Tech Rules Changing In December 2023; Check Implications On Your Finances

New Delhi: Several rules pertaining to banking, financial, tech and other sectors are changing from tomorrow (Friday, December 1).  Since these new rules are set to impact the day-to-day lives and also have implications on your finances, hence it is important to know more about these changes in detail.

Here Are 5 Financial And Tech Rules Changing In December 2023 And Implications On Your Finances

SIM Card Rule Change December 2023

The new SIM card rules, including mandatory verification of SIM card dealers and the abolition of the provision for bulk connections, are set to be implemented in India starting from December 1, 2023. The Department of Telecommunication (DoT) announced these new rules for SIM users, which were initially planned to begin on August 1 but were later deferred.

Locker Agreements Rule Change December 2023

The deadline for renewal of locker agreements between customers and banks also ends in December.The Reserve Bank of India (RBI) had in the begining of this year extended the deadline for renewal of locker agreements between customers and banks till December 31, 2023. The deadline was extended as it was noticed that till January 1 which was the original deadline for the renewal of agreements, a large number of customers had not signed the revised agreement.

UPI ID Rule Change December 2023

As per the National Payments Corporation of India (NPCI) guidelines, inactive unified payments interface (UPI) IDs and associated UPI numbers will be deactivated by December 31, 2023. In other words, users will have to activate their UPI ID else all banks, third party apps giving the UPI facility will deactivate or shut down such IDs after December 31, 2023.

Aadhaar Card Rule Change December 2023

Aadhaar card holders will be able to modify their Aadhaar details free of cost till December 14 through the myAaadhar portal. Unique Identification Authority of India (UIDAI) had extended the deadline for updating Aadhaar for free till December 14. The announcement was against its previous deadline of 14 September 2023.

Jeevan Pramaan Patra Rule Change December 2023

The last date to submit Jeevan Pramaan Patra or life certificate is November 30. Hence, pensioners, in order to continue receiving pensions will have to settle the matter today. Though you can submit the Jeevan Pramaan Patra even after missing the deadline, your pension will reach you only after your life certificate the Central Pension Processing Centres (CPPC).