Credit Card, Aadhaar, FD Deadlines And More --Check Key Financial Rules Changing From September 2024

Several rules pertaining to banking, financial and personal finance are changing from September. 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 Rules Changing From September And Implications On Your Finances

The payment due date on your credit card will now be 15 days from the statement generation date as per revised MITC w.e.f. September 2024 statement & will be applicable for all subsequent statements, IDFC First Bank has said. This is against the previous Due Date which was 18 days from statement generation.

The Indian government has extended the deadline for updating Aadhaar card details until September 14, 2024, as confirmed by the Unique Identification Authority of India (UIDAI) website. 

The Reserve Bank of India (RBI) had in March this year came up with new guidelines on credit cards. RBI has directed banks that they must provide availability of choice for customers to choose from multiple card networks at the time of issue. This directive will take effect from September 6, 2024.

IDBI Bank Utsav FDs with the tenors of 300 days, 375 days and 444 days will be available upto September 30, 2024.  Indian Bank special FDs for super senior citizens has maturity date on September 30, 2024. Punjab and Sindh Bank special FDs deadline is September 30, 2024. Deadline for SBI Amrit Kalash scheme and Wecare scheme will continue till 30th September 2024.

NCPI in a circular dated August 5, stated, "Issuers shall ensure that the rewards points, benefits, features and other ancillary offers should not be lower (directly & indirectly) for RuPay Credit Cards on UPI transactions and RuPay Credit Cards, except for transactions where issuer does not earn any interchange fee." 

Member banks are expected to adhere to the circular by 1st September 2024, NCPI has added. NCPI said observing that the reward points benefits and features for RuPay credit cards on UPI transactions are not equivalent to the reward points, benefits and featured on card transactions.