From Demat Nomination To Aadhaar Update, Changes Coming Into Effect From January 1

These changes will impact the day-to-day lives of individuals across the country.

The year 2023 is soon going to end. And with the onset of the new year, several changes will come into effect that will impact the day-to-day lives of the people. Most of the changes are connected to the banking sector, including online stock trading - also known as the demat account. Others deal with bank locker and updating Aadhaar details for free. As the clock strikes midnight on December 31, these changes will unfold, impacting our daily lives and global interactions.

Here's a look at changes coming into effect from January 1, 2024:

Demat nominee: This is an important change for those who are into stock trading. Demat (short for dematerialised) helps investors hold shares and securities in an electronic format. Market regulator SEBI has made it mandatory for all demat account holders to either furnish nomination declarations or opt out of nominations by January 1, 2024. If people fail to do so, they won't be able to transact in stocks. The earlier deadline was September 30 and was extended by three months.