Demat account holders can furnish nomination declarations by Jan 1, 2024

The Securities and Exchange Board of India (Sebi) stated that those who fail to do so will not be able to transact in stocks

The Securities and Exchange Board of India (Sebi) has made it mandatory for all demat account holders to either furnish nomination declarations or opt out of nominations by January 1, 2024.

The market regulator said that if the account holders fail to do so, they will not be able to transact in stocks. The earlier deadline was September 30, and was extended by three months. There are various changes that are linked to the banking sector.

Below is the list of changes that will come into effect from January 1, 2024:

Bank locker agreement: The Reserve Bank of India (RBI) has kept the deadline to sign the revised bank locker agreement by December 31, 2023. If a bank customer fails to do so, his/her locker will be frozen.

Changes in Aadhaar correction for free: The last date to update details in Aadhaar online for free is December 31, 2023. From January 1, 2024, a charge of Rs 50 will be imposed for requesting any change in Aadhaar.

No paper-based KYC for SIM cards: According to the Department of Telecommunications (DoT), a paper-based know-your-customer (KYC) process will be done away with starting January 1, 2024.

Canada to double cost-of-living financial requirement for international students: Beginning January 1, 2024, Canada will double the cost-of-living financial requirement for incoming international students. Immigration Minister Marc Miller said that the prospective students would have to show that they have access to $20,635 instead of the $ 10,000 requirement that has been in place for two decades.