There are only a few days left for the month of September to end. From the next month i.e. October, many new rules and changes are going to be implemented. In such a situation, in September, you have a chance to prepare yourself for this. There are some financial matters, whose compliance date is expiring this month.
After that you will not have chance for correction. The deadline of 30 September has been kept for many things. This includes registration in Atal Pension Yojana, card tokenization and many more things. Take a look at this article and see if you are missing something, which may cause problems for you next month. Let’s take a look.
Last chance to invest in Atal Pension Yojana
The government has announced changes in the eligibility of investors in Atal Pension Yojana. Taxpayers filing income tax from October will not be able to invest in this pension scheme. If you come between the age of 18 to 40 years and want to invest in this scheme, then you can register and invest in it before September 30, 2022.
This scheme is maintained by the Pension Fund Regulatory and Development Administration. Under this, a guaranteed pension of 1,000 to 5,000 is given every month to the employees / workers of the unorganized sector. It was launched in 2015 for people with minimum income under the Swavalamban scheme.
It is necessary to enable Two-Factor Authentication for Demat account
Demat account holders are required to enable two-factor authentication in their account before September 30, 2022. If they do not do this then after October 1, 2022 they may have trouble logging in to their trading account.
According to the National Stock Exchange, account holders need to have an authentication method biometric to log on to their demat account. At the same time, the second method can be ‘knowledge factor’, such as any information for a password or PIN, which only the user knows.
Tokenization for card transactions
Before September 30, every debit and credit cardholder will have to replace their card details with a unique token for online, point of sale and in-app transactions. This new rule of Reserve Bank of India is coming into force on October 1, 2022. Under this, from that day, no merchant point of sale or merchant website will be able to save your card details, such as card number, CVV or expiry date, at the time of online transaction.
Now card users will have to create a token instead of their details, you will get this facility on the payment gateway method. You have to save that token on that site. After saving, payment will be made through this token in subsequent transactions.
The purpose of creating a card token is that it hides your card details, so even if the data of any such site where you saved your details is leaked, then your details are safe because that site has just Your token is not the card details.
For more information about card tokenization, read this- Tokenization will be necessary at the time of card payment, check how your card will be converted into token; Here is the step by step process
