As November wraps up, December 2024 brings a wave of crucial financial changes and deadlines. From updates to Aadhaar details to new credit card rules, as well as the expiration of special fixed deposit (FD) schemes, these changes could significantly impact your finances. Additionally, the Telecom Regulatory Authority of India (TRAI) is implementing a new OTP traceability rule aimed at enhancing security. Here’s what you need to know to stay prepared:
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TRAI’s OTP Traceability Rule and Aadhaar Update Deadline
- TRAI’s Initiative: Starting 30 November 2024, TRAI’s OTP traceability rule will come into effect, aiming to curb OTP fraud. This measure ensures secure traceability without delaying OTP delivery.
- Aadhaar Update Deadline: Aadhaar cardholders can update their details online for free via the myAadhaar portal until 14 December 2024. After that, updates will incur charges. Offline updates at Aadhaar centres currently cost ₹50.
Special FD Schemes Ending Soon
Several banks’ exclusive fixed deposit schemes will conclude on 31 December 2024, offering attractive interest rates for limited terms:
- IDBI Bank Utsav FD:
- 300 days: 7.05% (7.55% for seniors)
- 375 days: 7.25% (7.75% for seniors)
- 444 days: 7.35% (7.85% for seniors)
- 700 days: 7.20% (7.70% for seniors)
- Punjab & Sind Bank Special FD:
- 222 days: 6.30%
- 333 days: 7.20%
- 444 days: 7.30%
- 555 days (callable): 7.45%
- 777 days: 7.25%
New Credit Card Rules to Watch For
- YES Bank Credit Cards: From 1 December 2024, limits on reward point usage will apply:
- Private and Private Prime cards: 6,00,000 points/month
- MARQUEE cards: 3,00,000 points/month
- RESERV cards: 2,00,000 points/month
- Other YES Bank cards: 1,00,000 points/month
These limits include restrictions already in place for using reward points on gift vouchers and statement credits.
- SBI Credit Cards: Starting 1 December 2024, special rules will apply when using SBI credit cards for digital gaming platforms or merchants associated with gaming.
Stay updated on these changes to make informed financial decisions and leverage potential benefits effectively.
