From LPG pricing adjustments to the RBI’s 100 Days 100 Pays campaign to return unclaimed deposits, here are eight developments to be aware of beginning today, June 1, 2023.
Transformations To Watch Out For In June 2023
RBI’s 100 Days 100 Pays Campaign
The Reserve Bank Of India has introduced a great campaign that aims in finding and setting the top 100 unclaimed deposits in all the banks across all districts within the span of 100 days.
Two-wheelers electric scooters getting expensive
If you are planning to buy electric scooters in June then be prepared to bear the losses. The reason for this is that the government has lowered and reduced the subsidy amount for purchasing electric vehicles. This will start getting applicable from June 1, 2023.
Cough syrup testing is now required.
The Drug Controller General of India (DCGI) ordered thorough testing for all cough syrups exported from the nation beginning June 1.
New SEBI regulations on children’s investments
The Securities and Exchange Board of India (SEBI) implemented new guidelines for purchasing mutual fund units on behalf of underage children through guardians. The new regulations will go into effect on June 15, 2023.
The deadline for connecting PAN and Aadhaar
Following a series of delays, the Income Tax Department has set 30 June 2023 as the new deadline for linking the PAN and Aadhaar cards together.
Bank locker policies
Customers must sign a new agreement with their banks under new guidelines for safe deposit boxes, according to the Reserve Bank of India (RBI). By June 30, 2023, the bank must have renewed the contracts of at least 50% of its clients. As the deadline approaches, you may be requested to renew your contract.
Increased EPS pension deadline
The Employees’ Provident Fund Organisation (EPFO) has extended the deadline for applying for a higher pension. The EPFO has extended the deadline for the second time. If you wish to choose a greater pension, you have until June 26, 2023, to do so.
Aadhaar card data may be updated online for free
The Unique Identification Authority of India (UIDAI) has offered online Aadhar document updates free of charge till June 14, 2023. It is vital to note that this service is only available on the myAadhaar portal and will continue to cost Rs. 50 at physical Aadhaar facilities, according to UIDAI.