Finance

Published: May 31, 2023
Updated: May 31, 2023

Important Financial Deadlines in June: Pan-Aadhar Link, Bank Locker Agreement, and More

As the month of June approaches, there are several crucial financial deadlines that taxpayers and bank customers in India need to keep in mind. Failing to meet these deadlines may result in fines and penalties. From linking PAN and Aadhaar cards to complying with new bank locker agreement rules, staying informed about these deadlines is essential to avoid any adverse consequences. Let's explore the key deadlines and tasks individuals should remember in June.

PAN-Aadhaar Linking Deadline:

The government has extended the deadline to link PAN cards with Aadhaar cards to June 30, 2023. Non-compliance with this deadline may render the PAN card inoperative, making it challenging for individuals to file their income tax returns. However, it is important to note that a fee of Rs 1,000 is now applicable for linking PAN and Aadhaar cards.

Deadline for Applying for a Higher EPS Pension:

The Employees' Provident Fund Organisation (EPFO) has extended the deadline for eligible employees to apply for a higher Employees' Pension Scheme (EPS) pension. The new deadline is June 26, 2023. This extension offers individuals more time to consider and apply for an enhanced pension, addressing the difficulties some employees faced in filing their applications.

Deadline for Free Aadhaar Update:

The Unique Identification Authority of India (UIDAI) has introduced a provision for Aadhaar holders to update their details online for free. This service will be available until June 14, 2023. Individuals who wish to update their address must do so by this deadline. Notably, physical Aadhaar centres will continue to charge Rs 50 for the same service.

Bank Locker Agreement Deadline:

The Reserve Bank of India (RBI) has set a deadline for banks to complete the phased renewal of new locker agreements by December 31, 2023. However, banks must achieve 50% enrollment by June 30, 2023, and 75% enrollment by September 30, 2023. Customers should ensure their locker agreements are renewed within the stipulated timeframes.

Indian Bank's Special FD Deadline:

Indian Bank has extended the deadline for its "Ind Super 400 Days" special fixed deposit scheme until June 30, 2023. This scheme offers attractive interest rates of 7.25% to the general public, 7.75% to seniors, and 8% to super senior citizens.

Deadline for SBI Amrit Kalash Special FD:

The State Bank of India (SBI) has reintroduced its popular Amrit Kalash fixed deposit scheme with a new deadline of June 30, 2023. The scheme offers a tenor of 400 days, with interest rates of 7.10% for regular investors and 7.60% for senior citizens.

Being aware of and meeting the financial deadlines in June is crucial for individuals to avoid fines and penalties. From linking PAN and Aadhaar cards to fulfilling bank locker agreement requirements, each deadline carries its own significance. Individuals should proactively take the necessary steps to comply with these deadlines and ensure a smooth financial journey.