8 major money deadlines, changes in March 2024

The last day to update your Aadhaar card for free on the myAadhaar site is March 14, 2024. After March 14, 2024, you must pay a charge to update your proof of identity and address documentation for the Aadhaar card.

According to an office memorandum issued by the UIDAI on December 11, 2023 “Based on the positive response from the residents, it is decided to extend the facility for 3 more months i.e. from 15.12.2023 to 14.03.2024. Accordingly, the facility for document update shall continue to be free of cost through myAadhaar portal at https://myaadhaar.uidai.gov.in/ up to 14.03.2024.”

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The last day to invest in SBI Amrit Kalash is March 31, 2024. According to the SBI website, “The specific tenor scheme of “400 days” (Amrit Kalash) at Rate of Interest of 7.10 % w.e.f. 12- April- 2023. Senior Citizens are eligible for rate of interest of 7.60%. The Scheme will be valid till 31-March-2024.”

The interest rate offered on SBI WeCare is 7.50%. The last day to invest for senior citizens in SBI wecare is March 31, 2024.

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The special campaign discount on SBI home loans is valid up to March 31, 2024. The discount is valid for all home loans, including those with flexipay, NRI, non-salaried, privilege, and Apon Ghar. Interest rate on home loan vary depending on the CIBIL score.

CIBIL Score 750-800: For CIBIL scores for 750-800 and above, the effective rate without concession is 9.15% (EBR+ 0 %), the effective rate during the offer period is 8.60%, a concession of 55 bps.

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The Reserve Bank of India (RBI) announced that it has extended the certain timeline related to certain Patym Payments Banks related services. Earlier, the central bank barred Paytm Payments Bank from accepting fresh deposits or top-ups from February 29, 2024, citing persistent non-compliance and continued material supervisory concerns. The deadline has now been extended by 15 days to March 15, 2024.

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IDBI Bank Utsav Callable FD offers higher interest rates on special tenure of 300 days, 375 days and 444 days offering interest rates of 7.05%, 7.10% and 7.25% respectively. This is valid till March 31, 2024.

According to the bank press release, “IDBI Bank has introduced its latest offering of “Special Limited Period Callable FD Offer of 300 Days” with peak rates of 7.55% p.a. This initiative is introduced under the Utsav FD scheme, and caters to customers seeking attractive rates in shorter tenures.

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The deadline for completing the tax-saving exercise for the fiscal year 2023–2024 is March 31, 2024, so if you haven’t finished it yet, get moving.

It is important to remember that the income tax requirements under the new tax system have changed as of April 1, 2023. As of FY 2023–2024, the new tax system is the default. Therefore, if the employee hasn’t chosen a tax regime by April 2023, the employer will deduct tax on pay (TDS) in line with the income tax slabs under the new tax regime.

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The way SBI Card will calculate the minimum amount due on a credit card bill will change. According to the SBI Card website, “b) Minimum Amount due shall be Total GST + EMI amount + 100% of Fees/Charges + 5% of [Finance Charge (if any) + Retail Spends and Cash Advance (if any)] + Overlimit Amount (if any).

W.e.f. 15th March 2024, In case 5% of (Finance Charge + Retail Spends and Cash Advance) is less than Finance Charges then MAD calculation will be Total GST + EMI amount + 100% of Fees/Charges + 100% of Finance Charges + Overlimit Amount (if any)”.

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